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Argentina’s Elepants eyes 2018 US entry
Argentine clothing brand Elepants has set its eyes on the US and is looking to expand into the market for spring/summer 2018 through franchising.
Specialized in comfortable pants with colorful prints, the brand was founded in Argentina and has had a presence in Paraguay since the beginning of last year.
In an exclusive interview with FashionNetwork, Elepants CEO Augusto Mustafá said the brand’s decision to expand into the US follows a review of its opportunities in a larger market. “It is a big challenge and we believe that it would have a strong impact on the rest of Latin America if we succeed there.”
The company has yet to decide where it will open its inaugural US store, but company partner Fermin Laborde is currently in the US tasked with completing the necessary procedures to accelerate the market entry and ensure its US launch by next year.
Elepants said it will launch in the US with products made in Argentina, however it plans to have a part of its products made in China when the business is more established, to ensure it remains competitive and profitable in the important.
The company is also currently prioritizing the development of new product categories such as shirts, dresses, swimwear and denim. Additionally, Elepants is set to open its 30th store in Argentina. The 80 sq mt site is scheduled to open in Cordoba in the next couple of days.
The new store will take Elepants’ total number of outlets in Argentina to 30, including 6 directly-operated sites and 24 franchised stores. The brand aims to sell 40,000 pants by the end of the year.
Today, the company has 60 employees, who work alongside a network of 300 people across marketing, clients and franchise partners. By the end of last year, Elepants had revenue of 100 million Argentine pesos.
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