Post by Charlotte on Dec 6, 2006 6:16:59 GMT -5
Stella McCartney is to open her first flagship store in Tokyo in 2008. The designer, whose label has thrived under Gucci Group, has signed a five-year licensing contract with Unit & Guest Co. Ltd. The company will distribute her ready-to-wear and accessories lines in that country. President and chief executive of the brand, Marco Bizzarri, told WWD that the label would also be opening shop-in-shops in select Japanese department stores.
Although many luxury firms are beginning to regard the Japanese market as a mature one with little room for growth and are increasingly turning their attention to China , Stella McCartney has waited until now to expand into Japan . The label already as a number of existing wholesale accounts in Japan , which it established in 2001. According to Bizzarri, the business has been growing especially fast in Japan and “we thought it was time to have a partner based there to develop it.” He said that the mature market conditions that other luxury brands have been complaining of did not apply to Stella McCartney. “We are a small company, and the Japanese market is not a mature one for us. We are a new brand in the growing stage of our lifecycle, and we see Japan as an opportunity.” He declined to reveal sales results or projections for the country.
In a statement, president of Unit & Guest, Tetsuya Hashida, said he looked forward to creating “a strong Stella McCartney brand” in Japan . Only three years old, Unit & Guest already has a proven track record distributing and developing luxury brands like Diane von Furstenberg, Luella and Biba in that country. The agreement with Stella McCartney will come into effect in January. All products will be imported from Europe .
www.stellamccartney.com
4 December 2006
Enjoy! Xxxxx
