ASOBIO was launched just three years ago, and the brand already has 60 stores in China. Although they are not yet present in others markets, ASOBIO has developed an international expansion plan which encompasses Southeast Asia, the Middle East and Eastern Europe.
Priscilla Sum, International Business Development and Retail Director, says: “By already opening 60 stores in different areas of China we have gained a lot of experience. China is a wide market with different types of cities, different weather situations and cultures. Today, as we are expanding, we feel confident and we have built a strong structure to support our ambitious plan of expansion.
"We do feel that certain markets offer more growth opportunities than others. Fast-growing economy markets such as Vietnam offer a significant potential for our brands, as there are only few retailers already present in the markets and a high demand for fashion goods from an emerging middle-class of customers.
“It can take long time to establish a brand and could lead to stock turnover issues for us. We know we need to be patient and we need to wisely invest our resources to enter and conquer these markets.”
ASOBIO currently operates through company-owned stores and franchises in China and plans to mainly trade through franchises in international markets.
Speaking about the brand, Sum says: “We offer value to our customer through Asobio products, by combining style inspired by the latest trends, but also quality and special attention to design detail.”
The brand offers three distinct styles of high-fashion trends for both men and women.
ASOBIO COLLECTION reflects the latest main trends from the runways all over the world with an emphasis on quality and noble fabrics and special attention to detail. Its core clientele is the fashion elite 25 to 45 year olds with relatively high paying careers.
ASOBIO WHITE is composed of tailored pieces made of the finest materials that blend style with simplicity. WHITE provides high quality essentials to complete every fashion wardrobe and appeals to 25 to 50 year olds, who are low-key, well educated and are looking for timeless good quality basics.
ASOBIO HIP reflects dynamism and trendiness and targets a younger crowd with current and fashionable styles. The target market is fashion-savvy 18-28 year olds looking for a fun and exciting shopping experience.
“Today, our core consumers are more knowledgeable about fashion trends and also more likely to switch for other brands if they are not satisfied”, Sum says.
For the full article, please see the March 2011 issue.