Sonae launches Zippy Philippines
Portuguese multi-brand retailer Sonae has expanded its international activity to Asia by opening its first two Zippy stores in the Philippines.
The Sonae brand of children’s clothing and nursery products has signed a franchising agreement that includes opening about 24 stores across the country during the next five years.
Miguel Mota Freitas, CEO of Sonae SR, said the partnership is in line with Sonae’s international expansion strategy, which looks to use its brands’ competitive advantages worldwide, diversifying markets and stimulating new development opportunities.
“Asia is a populous and economically dynamic region, with high birth rates, where consumers are beginning to pay more and more attention to quality products, which opens new perspectives for Zippy, particularly now in the Philippines,” he said.
Entering the Philippines resulted from the franchising agreement celebrated with Trimark Holdings, which operates more than 600 stores in the country under more than 40 international brands, mostly in fashion.
The Zippy Philippines stores have opened at the Glorietta and North Edsa shopping centres, in the capital city, Manila. Zippy’s Philippines stores will have an average area of 100 sqm offering products from clothing and footwear to baby and kids accessories.
With a population of around 100 million inhabitants, the Philippines is the seventh most populated country in Asia and the 12th most populated in the world. With more than one third of the population aged under 14 years, the potential customer base fits right into Zippy’s target market.
World Bank data predicts the Philippines’ economy will grow at 6.5 per cent annually for the next two years.