Mulberry takes on Japan
UK leathergoods company Mulberry plans to enter the Japanese market for the first time.
Since 1995, through its partnership with Club 21, an Asian high-end retail company, Mulberry has been selling goods to Singapore, China, Taiwan, Malaysia, Thailand, Indonesia and Philippines.
Now, it has extended the relationship to 2021 with Club 21 partnering in the Japan move.
Mulberry will start in Japan by establishing stores within stores, debuting in department store chain Isetan. The company is also planning to open flagship stores in Osaka and Tokyo in due course, selling its leathergoods.
Mulberry also plans to open new flagship stores in Hong Kong, Singapore, Beijing and Shanghai.
Club 21 recently extended its distribution partnership with Mulberry to include Vietnam and Australia.
“The Asia Pacific region represents a significant growth opportunity for the Mulberry brand and these two agreements lay the foundations for an accelerated penetration of the region, especially China and Japan,” said Godfrey Davis, Mulberry chairman and CEO.
“The board expects the Club 21 contribution to group sales to increase significantly over the coming years due to new store openings and increasing penetration of the Mulberry brand into these markets.”
At present, Mulberry has 12 stores opened in Beijing, Kuala Lumpur, Hong Kong, Taipei, Singapore, Bangkok and Sydney. As of 31 March 2011, Mulberry has generated a wholesale revenue of £5 million in Asia.
