Triumph to double mainland outlets
Triumph International, the Germany-based lingerie firm, aims to double revenue from the mainland in five years, increasing its number of mainland outlets from 800 to 1,600.
Sales and profits on the mainland have recorded double-digit growth annually for the past few years, according to Ralph Jansen, executive director of Triumph International Overseas.
To accelerate growth in Asia, which makes up 50 per cent of sales for the global lingerie firm, Triumph will step up its expansion in the mainland, including opening more outlets in tier one and tier two cities, as well as in Macau, where it plans to open a flagship store in The Venetian shopping mall.
Despite seeing growth potential on the mainland, Mr Jansen said: 'Competition is tough as many brands are trying to enter the market.'
Japan makes up the biggest portion of Triumph's sales, followed by Germany, Britain and the mainland, while India is showing rapid growth. In the Asia lingerie market, Triumph faces increasing competition from rivals such as Marks & Spencer and Calvin Klein.
La Perla, a premium Italian lingerie and beachwear brand, is also looking at the Chinese market after opening a flagship store in Hong Kong's Pacific Place last June.
Mr Jansen said Triumph ranked first in Hong Kong with a 30 per cent share of the lingerie market.
Triumph, which also makes lingerie for other brands, has two factories on the mainland and plants in Vietnam and Malaysia.
The average selling price for a Triumph bra on the mainland is about 250 yuan, targeting mid-range to high-end customers, Mr Jansen said.
Triumph, whose brand portfolio includes Sloggi and Valisere, plans to launch its male underwear brand HOM on the mainland before the end of this year.
Triumph's advertising and promotion expenses on the mainland amount to between 5 per cent and 10 per cent of its sales, said Mr Jansen.
