Juicy Couture’s make-over continues and now the brand has plans for growth in Asia.
Authentic Brands Group, LLC (ABG), the newly minted owners of Juicy Couture, inked a long-term franchise partnership with Asia’s leading retail, brand management and distribution company, ImagineX Group, to accelerate the brand’s growth in Greater China and Southeast Asia. The partnership is also expected to help expand Juicy Couture’s reach with new product lines and identify future growth opportunities, including freestanding girls’ and intimates shops.
ImagineX first acquired the management and distribution rights to Juicy Couture for Greater China and South East Asia in 2007. Of its many successes, ImagineX helped tailor the brand for the Asian market, resulting in double-digit growth year-over-year since the aquisition. It now operates more than 80 retail locations in Hong Kong, Macau, Taiwan, Singapore, Malaysia, Thailand and mainland China.
Jamie Salter, ABG chief executive officer and chairman, commented, “ImagineX has done a fantastic job of building the Juicy brand in Greater China, not only in terms of their focus on retail development but also their contribution to the design, creative and business development teams which has taken Juicy to where it is today in the Asia market.”
ABG’s long-term plan for Asia is just the latest installment in its multidimensional strategy to expand and invigorate the Juicy Couture brand in both domestic and international markets since it was acquired last year from Kate Spade & Co. (formerly Fifth & Pacific Companies Inc.) for $196 million.
In June, ABG announced plans to phase out all Juicy Couture stores in the U.S and Canada to make way for new concept stores in major cities. The company also finalized plans in June to collaborate with Steve Madden on two lines of women’s footwear set to hit stores in Spring 2015. In April, ABG tapped The Follie Follie Group to manage wholesale and retail distribution rights in Europe. Juicy Couture will open its 25th European store in Greece in September.
ABG said it plans to build on its 200 existing stores with an additional 127 retail locations worldwide over the course of five years. ABG is also revamping JuicyCouture.com to give consumers greater access to the Juicy Couture Black Label Collection, which is currently available in all stores worldwide.