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Can Can lingerie brand continues its expansion into Asia
29
Jan '09
After a successful launch into China, the Can Can Express brand is expanding into India and other Asian countries. Owners of a leading lingerie brand are embarking on a major global expansion programme following their listing on the Frankfurt Stock Exchange.

Can Can Lingerie Holding AG is using the listing – which values the company at around 50million Euros – to finance moves into Asian markets, taking advantage of the rapid growth anticipated in the retail sector.

The Swiss firm owns the Australian Can Can Express brand and their master licensee in China has already opened several stores in the Far East.

The company is to add more stores in China in 2009-10, and is in discussions with other potential licensees in India and the USA.

Chief Executive Officer Michael Pakula said: “The Asian market is one of the few forecast to have any growth at all in the short term.

“Retail sales in China are expected to grow 20% per annum until 2010, compared to negative or flat projections in Western economies.

“The growth in Asia, in particular our existing Chinese market, and our entry into the Indian market, will power our expansion for several years.

“We are being presented with many new business opportunities, and we see the economic climate as a chance to create a stronger, fast growing company with a worldwide footprint.”

Alongside the company's expansion into Asia in the next two years, Can Can is also looking to make several corporate acquisitions in 2009, and branch into Western markets in the medium to long-term.

In doing so they will utilise more than 50 years' experience of brand management, to develop their product ranges and create more rounded lifestyle offerings.

They currently deal exclusively in lingerie, nightwear and accessories created by Australian designers and manufacturers. The company also has a manufacturing base in China.

Mr. Pakula said: “Can Can Lingerie Holding AG's board of directors have a vast amount of experience of brand development and also maintain significant shareholdings in the company.

“They have the confidence and expertise to take advantage of the current economic climate, and strong motivation to increase wealth for the benefit of all the company's shareholders.

“We are also looking to bring more cornerstone shareholders, who share our vision for growth, on board in the short term.

“The Frankfurt Stock Exchange was chosen for our listing due to its strategic importance within the European investing community and reputation as one of the world's leading stock exchanges.”

Can Can Lingerie Holding AG

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Courtesy: Kornit Digital

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