Siu Fashion looking for European expansion
Chinese Siu Fashion wants to launch its ‘Les100Ciels’ and ‘Siu’ brands in Europe. The company, a subsidiary of the Neo Concept group, took its first steps in Europe last year with licensing agreement in Europe for the design, production and distribution of ‘Armand Basi’ and ‘By Basi’ clothes, shoes and bags.
Siu Fashion has reviewed its strategy with regards to Basi. Miguel Angel Fernandez, who spent 15 years with Levi Strauss Iberia before becoming Sales Manager of Venteprivée Spain, will be taking over from Eva Bravo as Global Brand Director. Eva Bravo moved on to become Head of Buying at Cortefiel in October, according to ModaES.
‘Armand Basi’ is mainly sold through the Corte Inglès network and at some independent multi-brand retailers. The brand has a flagship store in Paséo de Gracia in Barcelona. In contrast to the success of ‘Armand Basi’, Siu Fashion has announced that it will removing ‘By Basi’ from the market.
Siu Fashion is looking to distribute its ‘Les100Ciels’ brand as an alternative “French” brand, despite being Chinese. The brand is positioned in the ‘affordable luxury” market, in line with the brand’s desire for an “exclusive and selective” image.
"Les100Ciels is distributed in Spain and in Russia but we are close to finalising distribution agreements to enter the UK, French and German markets,” explains Miguel Angel Fernandez. “Siu is currently only available in China and Russia. The next step would be to enter the UK and the Middle East. Our main objective is to develop sustainably whilst respecting the brands concerned. We plan to do that by quality collections, great shop-in-shop concepts, merchandising and excellent customer service. We are working toward a glabal project but strategies are very much tailored to each locality. According to each market, we will either be working with retailers or agents.”
For 2011, the group recorded revenue of 180 million euros and is looking to reach 200 million euros in 2012. If everything is to go as planned, the group could expect strong growth in 2013. Sui Fashion will continue to develop in China and Russia whilst expanding into European, Middle Eastern, Turkish and Mexican markets.
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