As part of a franchise agreement with the Jaspal Group, the Finnish lifestyle company Marimekko is speeding up its Southeast Asian growth strategy, with the aim of entering Vietnam and Malaysia in 2023.
The plan possibly includes the launch of online stores in both markets, marking its first regional expansion after its debut in Singapore with the first shop set to open at Ion Orchard in September 2022. These fast-growing economies offer huge opportunities for Marimekko’s international growth and therefore support the firm’s objective to scale its business in the upcoming years.
Marimekko’s presence in Vietnam is scheduled to begin from Hanoi and Ho Chi Minh City, with its first stores located in Lotte Mall Westlake and Takashimaya shopping mall. Meanwhile, the brand’s shops in Malaysia will be located in Suria KLCC mall at Petronas Twin Towers and in The Exchange TRX mall.
Alongside Diesel, Melissa, and Asics, Marimekko will soon become a part of the Jaspal Group’s portfolio of brands. The Thai retail operator currently presents in four Asian markets.
A surging demand in Asia for the Finnish design house is one of the main motivations for making Marimekko available to local consumers and tourists alike in Vietnam and Malaysia. The Finland-based lifestyle brand commented that Asia is a critical market that has witnessed growing demand for the company’s products. The brand has 80 stores and shop-in-shops across Asia Pacific.
(Source: Retail News Asia)