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English luxury leather goods brand Mulberry has officially launched ‘Mulberry Asia’, which will operate in China, Hong Kong and Taiwan.
Expected to commence trade in Hong Kong from April 3, 2017, Mulberry Asia is a business agreement with a Gibraltar based fashion distributor Challice Limited. A subsidiary is to be located in China and a branch office in Taiwan. Four stores are to be operated, of which two in China, one in Hong Kong and one in Taiwan. Mulberry Asia will also manage the regional wholesale operations.
Mulberry Group Plc owns 60% of the share capital, and Challice the remaining 40%. In addition to local marketing activities, the Group said it plans to invest around £3 million (US$3.7 million) in additional support over the next two years to build brand awareness in the region and capitalise on international tourist flows to the UK, Europe and North America.
“We are delighted to launch Mulberry Asia, which enables us to advance our international strategy of developing the brand’s retail and omnichannel model in a key luxury market. We see significant growth opportunity in the region and look forward to taking this major step forward in fulfilling Mulberry’s global potential”, said Thierry Andretta, CEO, Mulberry Group.