Since the beginning of this year, the British luxury brand Mulberry began to focus its focus on the Asian market, set up joint ventures in China and Japan, and opened new stores in Shanghai and Hongkong to further optimize the online business. In Europe and North America, the focus is to increase the conversion rate of existing stores, while renovating the limited expansion of new stores.
At the beginning of December last year, Mulberry and the largest shareholder Challice limited set up Mulberry (Asia) Limited, which was mainly responsible for the development of the whole large China region, including Mainland China, Hongkong and Taiwan, and set up 4 stores in China.
The full channel network. Mulberry has 2 million pounds to control 60% of the equity capital of Mulberry (Asia) Limited, and it is expected to lose in the first two years of the first two years, and will start to make a profit for third years. At the same time, Mulberry invested about 3 million pounds in marketing in Asia.
The cooperation between merchant retailer Onward Holdings Co.Ltd. ewad group and the Onward Global Fashion Co.Ltd. of the latter set up Mulberry Japan Co. of the half share joint venture to replace the original distribution agreement.