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U.S. Polo Assn shifts focus to Asia
15
Sep '11
Economic slowdown in its homeland has compelled the U.S. Polo Association brand to move its focus to Asia as it intends to boost its business in the region by almost two-fold over the next five years.

David Cummings, President and CEO of USPA Properties, a subsidiary of the United States Polo Association expects Vietnam, Thailand and Philippines to register immense growth during the next five years as the Asean Economic Community (AEC) comes into effect in 2015.

Besides, the Asean consumer spending and retail sales have registered an average growth of 2.9 percent during initial six months of the current year.

The U.S. Polo Assn brand, which was launched three years back, now operates 40 sales points throughout Thailand and two stand-alone outlets at Siam Paragon and Central World.

Sales turnover of the brand, which grew to 120 million baht during January to June this year, has already exceeded the total turnover achieved during the entire 2010.

Further, Mr. Cummings informed that the firm intends to launch at least 10 new stand-alone outlets in Thailand within next two years.

Over the next five years, the company foresees its sales in Asia rise to around 24 percent, almost double the present turnover. The official said the brand would be expanded in Asian markets like India, China and Southeast Asia in a big way.

The company plans to raise the number of its sales outlets in India to almost double, as it proposes to have 100 outlets there within next three years.

Tom Tailor (Thailand) Co Executive Director, Patcharawan Boonnamsup stated that her firm would embark on massive expansion of U.S. Polo Assn in the Asean market, this year. The firm, which holds U.S. Polo Assn brand licence for 10 Asean nations, is now engaged, along with Mr. Cummings, in finding right distribution partners for their products in Asean markets.

Tom Tailor presently operates 20 sales points for the brand in Malaysia through an authorised distribution partner. Mr. Cummings said though there are 34 Polo trademarks available in the market, U.S. Polo Assn. is the sole genuine brand with a history of 121 years.

According to U.S. Polo Assn Vice President, Jim Scully, after the company changed its business strategy and replaced its wholesale sales channel with retail channels, its sales have grown at a rate of 19 to 20 percent for past four years. The sales turnover of the firm is expected to hit one billion USD mark this year.

Globally, the brand operates 235 outlets, which would be doubled during the next five years.

Fibre2fashion News Desk - India


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