Filipino apparel retailer Penshoppe is planning to roll out stores across southeast Asia before expanding further afield internationally.
Indonesia is its first destination market, with its first stores scheduled to open in December at Central Park Mall in Jakarta and Mall@Alam Sutera in Tangerang.
Penshoppe owner Golden ABC has signed MAP Group of Indonesia to build 150-store network across Indonesia over 10 years.
Indonesia is an attractive market for Penshoppe due to its population that is nearly three times bigger than that of the Philippines, said Golden ABC president Bernie Liu.
Penshoppe, positioned at the value end of the market, operates 300 stores in the Philippines and 12 overseas in Bahrain, Saudi Arabia and the UAE. It also plans to open its first store in Dubai next month.
Penshoppe is the first Asian brand that would be operated by MAP Group, which has a portfolio of more than 100 international brands including Debenhams, Topman, Topshop, Massimo Dutti, Lacoste and Zara.
“Asian brands are just as good as the Western brands. If they have the capability and desire to elevate their standards to become one of the best in the world, then they should be treated equal to Western brands,” said Agus Gozali, president of MAP Group’s PT Prima Mode Indonesia.
Golden ABC also owns brands Oxygen, ForMe, Tyler, Memo and Regatta.