Rocketing sales at Asia-focused leathergoods brand
28/03/2014
The company posted sales of $500 million last year which it forecasts to rise to $750 million this year and $1.5 billion in three to four years.
China, Korea and Japan each contribute a third of group revenue.
MCM was acquired in 2005 by Sungjoo Group, a South Korean fashion retailer founded by Sung-Joo Kim, who has since rebuilt the brand to cater to the tastes of young Asian consumers.
She said: “Consumers who buy luxury goods in Asia are very different from Europe. In Europe, the consumers tend to be more mature; while in Asia, young consumers are the movers and shakers.”
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