Juicy Couture, one of Liz Claiborne Inc.’s most visible brands, is expanding its presence to Asia.
Juicy signed an agreement with the Lane Crawford Joyce Group for exclusive distribution rights to the Juicy Couture brand in China, Taiwan, Hong Kong, Macau, Singapore, Thailand, Malaysia and Indonesia. During the first four years of the contract, 24 Juicy Couture freestanding stores will open, along with 23 shop-in-shops, with the majority of the presence focused in Greater China, including the Mainland and Hong Kong as well as Taiwan.
Juicy Couture, which was founded in 1994, was acquired by Claiborne in 2003.
The Lane Crawford Joyce Group is Asia’s premier international brand group. Among its portfolio of brands under franchise and distribution in Greater China are Marc Jacobs, Marni, Hugo Boss, Versace, Coach and BCBG.
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“Limiting Juicy Couture’s wholesale distribution in the U.S. has always been a key element of our long-term growth strategy, and Juicy has prospered under very select, very exclusive distribution,” said Gela Taylor, co-president of Juicy Couture, in a statement. “We expect a substantial portion of the future growth for the brand to come from international expansion as well as accessories, brand extensions, licensing and a focus on specialty retail in the U.S.”
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Juicy, which began as a women’s contemporary brand, has expanded into men’s, children’s wear, accessories, swimwear, footwear, sunglasses, watches and fragrance. Stateside, the first Juicy Couture store opened in Las Vegas in 2004. In June, the first Manhattan Juicy Couture flagship opened, and three more locations in the city are planned. By yearend 2007, the plan is to have 40 freestanding units, including flagships in New York, San Francisco, Milan and Tokyo.
Industry sources estimate the Juicy Couture universe now does upward of $300 million in wholesale volume, and the brand’s first fragrance, launched last month, is expected to add significantly to that figure.