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Rhapsody targets Asia for its new retail venture
15
Sep '11
The Los-Angeles based Rhapsody Clothing Inc., which makes its made-in-USA collection for juniors available across North America, is now targeting Asia for its new retail venture.

The firm is all set to launch its shop-in-shop outlet at Home Plus, a leading discount chain of South Korea jointly owned by UK-based Tesco, on September 23.

The outlet, spread on an area of over 2,000 square feet at Bucheon, in the suburbs of Seoul, will sell the firm's new Love Scene collection.

Rhapsody intends to have over 100 Love Scene outlets at Home Plus locations throughout South Korea, by close of 2012.

It is forecasted that the firm's retail venture in Asia would boost the company's growth. The company intends to make US$ 30 million in sales during the current year and expects it to grow to US$ 50 million during next year and to US$ 200 million in 2013.

The company also plans to shortly set up Love Scene outlets in China, but is expected to cling to its wholesale business in North America.

Production of knit tops and dresses for Rhapsody is undertaken in the US, while outerwear is produced in China, and other category of apparels are produced in Guatemala and Mexico.

The Love Scene brand was launched by the company last year in partnership with Le Queen, a fashion retailer from Korea which operates it outlets at over 60 locations in South Korea. The Korean retailer urged Rhapsody to partner them for a young missy line and as a part of this partnership the Love Scene brand was evolved.

However, at the end of the one-year contract period in August this year, Rhapsody separated the brand from Le Queen.

Fibre2fashion News Desk - India

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