Mulberry signs deal to build presence in Japan
Aug. 8, 2017
British fashion brand Mulberry has created a joint venture with Shibuya-based firm Onward Global Fashion Co., Ltd. to boost its appeal in Japan.
Well-known for handbags, shoes and luggage, Mulberry is self-described as an “affordable luxury” brand but has gained less market share in Asia than its rivals, prompting the move to strengthen its position.
According to Mulberry’s chief executive Thierry Andretta, the brand has “significant growth opportunity” in Japan and hopes to draw on its new partner’s “extensive luxury goods experience and robust infrastructure.”
Onward Global Fashion imports and sales brand name apparel and accessories including Jil Sander, Sonia Rykiel and Rochas, and will now sell Mulberry’s handbags and other leather goods.
Between them, Onward Global Fashion and Mulberry are to invest ¥400 million in the 50:50 venture, which will be used on distribution and marketing. Named Mulberry Japan, it will be headquartered in Tokyo and designed to improve Mulberry’s “omnichannel strategy.”
The new entity builds on Mulberry concessions in Isetan department stores in Osaka and Shinjuku as well as a Mulberry shop in Tokyo’s Ginza Six, wholesale streams and the brand’s website Mulberry.com
Produced by Sterling Content for the BCCJ