Pynkiss directors are in talks with several high-profile businesses and stockists across the entire region including several in mainland China. They are preparing for the further expansion of the brand throughout the remainder of 2012 and well into 2013, bringing its premium apparel and accessories to the already devoted Asian Hello Kitty customer.
China is now the world's fastest growing market for licensed goods, which has grown over 250% from US$1.1 billion in 2005 to US$ 4 billion in 2011. i.e. an average annual growth rate of 29%, almost tripling the country's GDP growth rate. Despite a very short history of development, the huge size of the economy has made China the second largest licensing market in Asia, following Japan.
Pynkiss, always a brand with its eye closely fixed on cutting-edge fashion, is designed in the fashion capital of the world, Milan, but features the Japanese and international icon, Hello Kitty (part of the Sanrio staple), which has grown into a US$6 billion a year brand.
The global expansion of the brand follows the recent release of the Pynkiss Lookbook app for iPhone and Android as a precursor to the launch of its global online retail platform coming early 2013. Expansion into Asia comes hot on the heels of Pynkiss boutiques opening for business in the Middle East region. All of the ME region stores have reported extremely positive sales figures.
Global CEO Mr. Chady Jreige; "Pynkiss sees the growth opportunities in the Asian licensing market as prosperous. According to research, cross-sectional analyses show that for every 1% rise in per capita income, the per capita spending on licensed goods will rise about 1.4%. As reported by the Asian Development Bank, the Chinese Middle Class (more than USD 4 income person/day) alone is expected to rise between 2010 and 2020 from ca. 500 to ca. 750 million people. By 2030, it is estimated to compass one billion people. Naturally, this implies huge opportunities for the licensing industry as well."
He continues; "for a brand linked so closely to a figure that is instantly recognisable by anyone across the entire planet, Pynkiss' future expansion plans have been accelerated. We had had a huge response from the Asian markets, but also big name stockists from the US and Canada to Australia are now in talks with us to open individual, and chains, of Pynkiss boutiques.
| On 19th Jun 2021
Of almost 305,000 tonnes of textiles discarded in Australia’s New...
A survey of 540 South Korean exporting firms by the Korea...
Resetting and reimagining the innovation agenda for the...
There was a certain switch, but it was not 100% pandemic related
Sustainable and eco-friendly fibres remain in the minority
Strike a balance between handmade in India and 'Make in India'
Established by <b>Shyam Gupta</b> in 1978, Gargee Designer's (GD) offers...
Headquartered at Singapore, Crocodile is a global fashion and lifestyle...
<b>Gus Bartholomew</b>, co-founder of SupplyCompass, explains to <b>Subir...
Headquartered in Belgium and with offices in the United Kingdom, Portugal...
Hologenix is a material sciences company dedicated to developing products...
With forces in engineering and process development, Andritz Nonwoven...
Sandeep Gonsalves & Sarah Gonsalves
Sarah & Sandeep
Established in 2012, Sarah & Sandeep is a luxury menswear label...
Designer <b>Suman Nathwani</b> talks about her journey of opening a...
The creations by Aprajita Toor were born out of a deep desire to create...
Letter to Editor
Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.
Subscribe today and get the latest information on Textiles, Fashion, Apparel.