Since the beginning of this year, the British luxury brand Mulberry has focused its attention on the Asian market, set up joint ventures in China and Japan, opened new stores in Shanghai and Hongkong, and further optimized online businesses.
In Europe and North America, the focus of development is to improve the conversion rate of existing stores and expand new stores at the same time as the refurbishment. At the beginning of last December, and the largest shareholder of Challice Mulberry Co. Ltd. was founded in Mulberry (Asia) Limited company, is mainly responsible for the mainland, Hongkong, Taiwan and other Chinese in the Greater China region of business development, and will open 4 stores in China, improve online and offline full channel network. Mulberry invested 2 million pounds to control Mulberry (Asia) Co., Ltd. 60% of the share capital, and estimated that the new company would lose money in the first two years of its establishment, and it will be profitable in third years.
At the same time, Mulberry has invested about 3 million pounds in marketing in Asia. In July this year, Mulberry decided to upgrade with the Japanese fashion retailer Onward Holdings Co.Ltd. en Jawad retailers group cooperation, and the latter’s Onward Global Fashion Co.Ltd. shares accounted for half of the establishment of the joint venture company Mulberry Japan Co., to replace the original distribution agreement.