French leather and luxury goods company Longchamp has plans to expand its presence in its emerging markets – and China is a key one.

According to CEO Jean Cassegrain, the company aims to make China one of its top three markets globally by 2014. China has been a major contributor to the company’s growth in the past – during the first half of 2011, Longchamp’s business grew 67 per cent year on year. 

“The Hong Kong store’s ranking in our top-seller stores makes me confident that China will be one of Longchamp’s top-three markets within three to four years, from its current top-five ranking,” said Cassegrain.

Longchamp currently has 13 stores in eight Chinese cities. With a growing number of Chinese people able to afford luxury products, the country is now the world’s second biggest single luxury goods market.

Longchamp also plans further expansion in the US where its sales soared by 26 per cent last year. Planned expansion includes a third store in Manhattan and a boutique at King of Prussia Mall, northwest of Philadelphia.

Founded by Cassegrain in 1948, Longchamp creates small leather goods, lightweight travel goods, clothing, scarves and other fashion accessories. Longchamp posted a 23 per cent sales growth in its Asian markets last year.

GB