The Kooples is looking to Asia for expansion
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Parisian fashion label The Kooples is looking to Asia for expansion, starting with two monobrand stores in Hong Kong in November.
It is about to sign a partnership deal with a regional retail group, with its Hong Kong stores to be in the Harbour City and Pacific Place shopping malls.
This will build on the handful of retail outlets it currently has in Asia, stores and retail corners mainly in Thailand and South Korea.
Above all, the new partnership will lead to the opening of the label’s first stores on Mainland China, from next year. The Kooples’ only presence in China is a retail corner at the Galeries Lafayette department store in Beijing. Similar formats could follow as Galeries Lafayette is a partner, and is planning further stores in China.
Meanwhile, The Kooples is evaluating the launch of a dedicated China e-commerce site.
Following Hong Kong and China, the Parisian label and its local partner are also considering Japan.
In the fiscal year to August 31, The Kooples’ revenue was around €220 million (US$263.1 million), on par with the previous year, and the company sees Asia as a crucial growth driver for the 400-store brand.
“Asia’s the next challenge” says GM Nicolas Dreyfus.
The Kooples has appointed the director for its Asian subsidiary: former Balmain Asia COO Laetitia Mergui.
Questions & Answers
Q.Which markets will The Kooples enter first as part of its Asia expansion strategy?
Which markets will The Kooples enter first as part of its Asia expansion strategy?
The Kooples will begin its expansion by opening two monobrand stores in Hong Kong in November. Following this, the new partnership aims to establish the brand's first stores in Mainland China starting next year.
Q.What is the primary motivation for The Kooples to expand into the Asian market?
What is the primary motivation for The Kooples to expand into the Asian market?
The company views Asia as a crucial growth driver for its brand, which currently operates 400 stores. The General Manager, Nicolas Dreyfus, specifically stated that 'Asia's the next challenge' for the business.
Q.Who has been appointed to oversee The Kooples' expansion efforts in Asia?
Who has been appointed to oversee The Kooples' expansion efforts in Asia?
Laetitia Mergui has been appointed as the director for The Kooples' Asian subsidiary. She previously served as the Chief Operating Officer for Balmain Asia, bringing relevant experience to the role.
Q.What was The Kooples' revenue performance like in the most recent fiscal year?
What was The Kooples' revenue performance like in the most recent fiscal year?
In the fiscal year that concluded on August 31, The Kooples recorded revenues of approximately €220 million. This figure was reported as being on par with the revenue achieved in the previous year.
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