Filipino retailers to expand overseas
Growing overseas demand for designed apparel is prompting Filipino retailers Suyen Corporation and Golden ABC to expand more offshore.
Suyen, which owns Bench brand, plans expanding to two Southeast Asian countries where it is currently in talks with potential partners as well as in South Korea.
The company is also looking to open up to 30 new stores in China, where it has 50.
Suyen, which also owns brands Human and Kashieca and represents global brands American Eagle Outfitters, Charles and Keith, Cotton On and Aldo, also has 18 stores in the Middle East and three in the US.
Meanwhile, Golden ABC Incorporated, which owns Penshoppe brand, says it is talks with partners in four countries.
It plans to open 15 more stores overseas in addition to the 11 stores in the Middle East and four in Indonesia.
Golden ABC says the company is receiving a lot of inquiries for its other brands such as Memo, Oxygen and Regatta.
“We ended the previous year with 500 plus local and international stores, Safe to assume, we will be looking at 630 by the year-end,” said Golden ABC CEO Bernie Liu.