Italian outerwear brand Peuterey Group SpA owns stores in Milan, Rome, Cortina, Berlin, and Antwerp. Their next stop is Shanghai. A store for men’s and women’s collections and a second exclusively for children’s will open at Takashimaya in Shanghai this week. As part of this venture, Peuterey has also opened an office in Beijing with a subsidiary in Shanghai to manage business in Asia.
Francesca Lusini, Peuterey Group president, said, “Considering Asia a fundamental market, we have decided, in the first phase, to keep a direct control on our operations in the Far East in order to position our brand in the correct way, in line with our philosophy and values.”
The brand also plans to open locations in Beijing’s Charter Shopping Center in February and a freestanding store in Shanghai at the Jing An Kerry Center is expected in April, which will be its first Chinese directly controlled location. The brand hopes to have 30 stores in China in 5 years.
Peuterey currently sells its collections in Japan and Korea, which accounts for 5 percent of its total business. The brand hopes to generate $130 million in income in Asia over 5 years. In 2011, the brand earned $139 million of revenue.
photo credit: peuterey