Parfois to expand in Asia and other country
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Portuguese accessories brand Parfois is planning an expansion into Asia and Eastern Europe.
Parfois, founded in 1994, currently operates 900 stores in 65 countries and is seeking to reach its 1000th by the end of this year. The brand opened in around 10 new markets this year – including joining Alibaba’s Tmall Global platform – and while immediate plans are focusing on building its presence in Latin America, it has already begun to explore options in Asian and Eastern European countries.
Parfois’ director of marketing and communications Susana Coerver said sales in Portugal and Spain represent more than half of the firm’s revenue, with Spain by far the biggest market, prompting expansion into smaller municipalities within the country. The company also aims to expand its product range with a venture into apparel.
The brand closed the 2017 financial year with €306 million in sales, with growth expectations for the current year aiming at 20 per cent.
Questions & Answers
Q.Which specific regions are Parfois targeting for expansion?
Which specific regions are Parfois targeting for expansion?
Parfois is planning to expand into Asia and Eastern Europe. Immediate plans also focus on building its presence in Latin America, alongside further expansion into smaller municipalities within Spain.
Q.What is Parfois' current global presence and their short-term growth target?
What is Parfois' current global presence and their short-term growth target?
Parfois currently operates 900 stores across 65 countries. The brand aims to reach its 1000th store by the end of this year, having opened in around 10 new markets already this year.
Q.Which countries are Parfois' most significant revenue generators?
Which countries are Parfois' most significant revenue generators?
Portugal and Spain together represent more than half of Parfois' revenue. Spain is identified as the brand's single biggest market by a considerable margin, prompting further domestic expansion there.
Q.What new product category is Parfois looking to introduce?
What new product category is Parfois looking to introduce?
Beyond accessories, Parfois aims to expand its product range by venturing into apparel. This new category would diversify their offering alongside their established accessory lines.