Home / Knowledge / News / Apparel/Garments / Mitsui & Co picks up stake in Singapore retailer Triple
Mitsui & Co picks up stake in Singapore retailer Triple
28
May '15
Mitsui & Co, one of Japan's largest general trading companies, has invested in Singapore apparel retailer Triple Pte Ltd, according to media reports.

The deal inked last week will see Mitsui & Co take a minority stake in Triple, an omni-channel sports and lifestyle retailer that operates brand stores, shop-in-shop operations, wholesale distribution and e-commerce in key South-east Asian countries.

According to Triple's chief executive officer Michael Binger, talks between both parties had gone on for approximately six to eight months before the deal was completed on May 18.

"Triple sees Mitsui as a strong long-term strategic partner with good complementary strengths. Mitsui has a network of relations with brands that are not yet represented in south-east Asia, and with the wide business interests of Mitsui and Triple's rapid growth, there will be other areas of co-operation, including logistics," Binger said, adding that the two parties also hope to use their partnership to fuel their e-commerce expansion.

Mitsui & Co is a Japanese company largely involved in the energy sector, though it also has businesses in fields ranging from chemicals and iron and steel, to transportation and communications systems and food products and services. It operates over 140 offices in 65 countries.

"Mitsui's current strategy focuses on brand marketing in downstream sector, among which sports and lifestyle is the key category judging from the global trend," said Toshi Sakurai, general manager of the consumer service business department of Mitsui & Co (Asia Pacific) Pte Ltd.

"Establishing the retail network in rapidly growing market such as south-east Asia is regarded as the key element to leverage this brand marketing strategy. Triple's participation is best fit to these points," he added.

Triple was started in September 2013 primarily as a wholesaler for American sportswear brand Under Armour, for which it holds exclusive distribution rights in nine countries across south-east Asia.

Since then, the company has opened five Under Armour stores and shop-in-shop outlets in Singapore, three in the Philippines and three in Malaysia, all within shopping malls in prime locations.

Store expansion in its core markets - Singapore, Malaysia and Thailand - will continue with four additional stores to open in 2015, and five to six stores in 2016.

The company also plans to enter three new markets -- Indonesia, Brunei and Vietnam, via a network of partner stores and shop-in- shop executions, with five to six new stores and approximately 10 shop-in-shop locations targeted to open in these markets next year. (SH)

Fibre2fashion News Desk – India


Must ReadView All

Courtesy: Fashion Revolution/Fashion Transparency Index

Apparel/Garments | On 23rd Apr 2018

Transparency helps in swiftly alerting brands

Disclosing key supplier, supply chain and operational information...

Japan’s clothing imports up 4% in fiscal 2017

Apparel/Garments | On 23rd Apr 2018

Japan’s clothing imports up 4% in fiscal 2017

Japan’s imports of clothing and accessories increased by 4 per cent...

Courtesy: Fashion Revolution/Fashion Transparency Index

Fashion | On 23rd Apr 2018

Top global fashion brands now more transparent

Fashion Revolution’s Fashion Transparency Index 2018 reveals Adidas...

Interviews View All

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Subhashini Srinivasan
The S Studio

Ethnicwear market will see an upward trend if uniqueness and quality are...

Karan Suratwala
Key Textile Accessories Private Limited

Chinese imports are destroying the supply chain

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

Liz Manning

<div><b>Liz Manning</b>, Business Development Manager at Catexel, has...

Ravindra Jain, Ashish Baid

Oswal Prints Private Limited has been manufacturing and exporting ethnic...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Igor Chapurin
Chapurin

"Now we can see the Russian trend in international fashion. And Russian...

Aditi Somani
Aditi Somani

Aditi Somani specialises in luxury fusion wear with international cuts and ...

Wendell Rodricks
Wendell Rodricks

"We should not compare India and the West. There are things we do that...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


April 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.9%
No
12.6%
Skip
17.5%

Total Votes: 103

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.1%
No
29.1%
Skip
7.8%

Total Votes: 103

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.4%
No
8.7%
Skip
3.9%

Total Votes: 103

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
7.8%
Skip
9.7%

Total Votes: 103


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search