Images courtesy of Net-a-Porter
Hong Kong based Pedder Group just announced a joint venture with shoe guru Christian Louboutin, which will see the group extend their current contract to include the mainland market (in addition to South East Asia). The new retail strategy will commence with the opening of freestanding boutiques in Beijing and Shanghai later this year.
Pedder Group has worked exclusively with Christian Louboutin since 2002, and operates several freestanding stores in Asia, including Hong Kong, Singapore and Jakarta.
“It has been exciting for the Pedder Group to work with Christian Louboutin, to realise Christian’s vision and to facilitate the extraordinary potential within this market,” said Peter Harris, President of Pedder Group. “China represents immeasurable opportunity”.
Recently we’ve seen a growing trend for larger brands to regain control of their businesses/franchises on the mainland (Burberry and Ferragamo are two recent examples). It’s interesting to note that some brands are still entering the market with caution, mainly due to the fact that China is so large and operates on a completely different scale. For any business to succeed there it’s imperative that you learn the market inside out and a good partner is the first step.