Parkson to launch fashion brand LOL
In this article (5)
Malaysian department store retailer Parkson Retail Asia is to launch a new fashion brand LOL, in partnership with a newly established company Super Apparel Supply, jointly owned by Chong Yan Kit and Lim Kin Ann.
Together the two companies will establish a chain of retail stores branded LOL and selling fashion apparel and accessories, with Parkson owning 70 per cent of the business. Their venture will be established under an existing non-trading Parkson entity.
Parkson says the JV will give it platform for selling men’s, women’s and children’s apparel, shoes and accessories ”to the mass market”.
No other information has been released to date, including when and where the first stores will open or whether the brand will be launched outside Malaysia.
Based on its name and the company’s wording, LOL appears to be a fast fashion or outlet concept, perhaps taking the fight back to Uniqlo which is expanding rapidly in Southeast Asia on a value offer.
Questions & Answers
Q.What is Parkson's ownership stake in the new fashion brand LOL?
What is Parkson's ownership stake in the new fashion brand LOL?
Parkson will own 70 per cent of the new business venture. The remaining 30 per cent will be owned by Super Apparel Supply, a newly established company jointly owned by Chong Yan Kit and Lim Kin Ann.
Q.Who are the partners collaborating with Parkson on this new venture?
Who are the partners collaborating with Parkson on this new venture?
Parkson is partnering with Super Apparel Supply, a newly established company. Super Apparel Supply is jointly owned by two individuals, Chong Yan Kit and Lim Kin Ann, who are working together with Parkson on the LOL brand.
Q.What market segment is the new LOL brand targeting with its apparel and accessories?
What market segment is the new LOL brand targeting with its apparel and accessories?
The new LOL brand aims to sell men’s, women’s, and children’s apparel, shoes, and accessories to the mass market. This strategy suggests an intent to reach a broad customer base with its offerings.
Q.Has any information been released about the opening dates or locations for the first LOL stores?
Has any information been released about the opening dates or locations for the first LOL stores?
No information has been released regarding when or where the first LOL stores will open. Details about a potential launch outside Malaysia have also not yet been provided by the companies involved.
Reader pulse
Is Parkson's new LOL brand a smart move?
19,917 votes so far