Folli Follie S.A. announces today the launch of a joint venture with LAPIN HOUSE S.A. to provide clothing, jewellery, watches for children and babies in the Asian market. The joint venture will operate under the brand name Folli Folli Baby and is expected to commence coming month with one shop in Beijing and two shops in Shanghai as pilots. Further expansion in the rest of Asia is planned with distribution through stand-alone shops as well as shop-in shop in department stores. The company will be based in Hong Kong. The world''s biggest economy follows since two decades a one-child policy allowing families to concentrate their resources just on one child. Chinese parents and grandparents greatly love and value their children and spend the largest part of their income on them, since they have fewer people on whom to spread their largesse. With 21% of the Chinese population being below 14 years old, there is a large still fragmented market which can be developed.
George Koutsolioutsos, Vice-President of Folli Follie S.A. said, We are very excited about the opportunities in the dynamic Chinese market. I am convinced that the excellence of Folli Follies and LAPIN HOUSE product range paired with Folli Follies local insight as well as our ample brand awareness in China is a is a powerful combination leading to success.
Stavros Papayioannou, Chairman and General Manager of LAPIN HOUSE S.A., said: We are delighted to be working with Folli Follie and look forward to offering together unique kids fashion and accessories for Chinese youngest population.
About LAPIN HOUSE S.A.
The Athens based company LAPIN HOUSE S.A. has been established 25-years ago and became a worldwide leading fashion retailer and designer, offering clothing and accessories for children and babies. LAPIN HOUSE operates more than 80 stores and 500 wholesale clients in Greece, Cyprus, Turkey, Italy, Canada, Russia, Ukraine, the Czech Republic, Saudi Arabia, Bahrain, the U.A.E. and Kuwait. www.lapinhouse.com.
About Folli Follie S.A.
Folli Follie is a Greek company which designs, manufactures and distributes jewellery, watches and fashion accessories under the Folli Follie brand. The Folli Follie brand''s core values are affordable, fashionable luxury. The company has a presence in more than 20 countries with over 320 Point of Sales. In China Folli Follie is present in 26 cities having established 62 Point of Sales and employing 350 people. The company also maintains two offices in Shanghai and Beijing. Folli Follie products are sold through retail standalone shops such as Rue Royale in Paris, New Bond Street in London, Ginza in Tokyo and Central in Hong Kong. Furthermore Folli Follie products are sold in department stores such as Galleries Lafayette in France, Isetan and Takashimaya in Japan and Corte Ingles in Spain. www.follifollie.com.