Stripe buys Vietnam fashion chain Vascara
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Japanese clothing firm Stripe International has purchased a majority stakeholding in Vietnamese firm Global Fashion.
The 70-per-cent shareholding will give Stripe a controlling interest in Vietnamese brand Vascara. It is the second Vietnamese apparel company to be acquired by the firm since its purchase of Nem Group two years ago.
“We see the potential of the Vietnamese fashion market, especially the footwear and bags industry,” said Stripe Saigon general director and CEO Harigae Tsutomu.
“Vascara is a brand that has great potential for development, so we believe that the experience and technology accumulated from many markets around the world will accompany and support Vascara to accelerate development, expand the system of stores and serve millions of Vietnamese consumers.”
Questions & Answers
Q.Which specific brand does this acquisition give Stripe International control over?
Which specific brand does this acquisition give Stripe International control over?
Stripe International will gain a controlling interest in the Vietnamese fashion brand Vascara. This brand is known for its potential in the footwear and bags industry within Vietnam.
Q.What is the Japanese firm's prior experience with Vietnamese fashion companies?
What is the Japanese firm's prior experience with Vietnamese fashion companies?
This is Stripe International's second acquisition of a Vietnamese apparel company. They previously purchased the Nem Group two years ago, demonstrating an ongoing interest in the market.
Q.What is Stripe International's strategic goal for the Vascara brand?
What is Stripe International's strategic goal for the Vascara brand?
The firm aims to accelerate Vascara's development by using its global experience and technology. The goal is to expand the store system and serve more Vietnamese consumers.