During a down turn economy, some brand owners find new opportunities in Asia.
Making its first foray into Asia, Hennes & Mauritz AB’s upscale brand COS opened a 6,000-square-foot store in Hong Kong late June. COS is joining other international retailers such as Coach and The Gap in the prime Central area.
Next up, Beijing. Plans are underway for a 4,300 square-foot store at the Parkview Green, a mall and hotel in Beijing’s central business district. The store will carry the entire COS collections.COS, which is short for Collection of Style, is a unisex brand with a design aesthetic that is modern, clean, and classic. The brand philosophy favors style over fashion trends.
Although we’ve been hearing a lot about China’s slowing growth recently, this is a perfect example of how retailers are staying bullish and moving forward. There’s still a lot of market potential, but brands just need to take a more strategic approach to targeting cities, areas, and sites than in recent years. Luckily, reliable data in markets like China has become more readily available. It’s becoming easier to target the right customers with the right brands in the right areas.