Maison Kitsuné announces joint venture in China

Paris-based fashion, music and lifestyle brand Maison Kitsuné has announced a joint venture with JoeOne in China, as it looks to expand its global reach and add 50 points of sales in the next five years in the region.

The news follows the multi-faceted Paris-meets-Tokyo brand’s strategic announcement in October 2018, where it stated that it would explore “untapped Asian markets” with the help of local partners. This strategy started with an exclusive distribution partnership with South Korea’s Samsung C&T, which saw the brand successfully open its first shop-in-shop in Shinsegae Gangnam department store, as well as a 2,690 square foot flagship store in the Garosu-gil neighbourhood that features a Maison Kitsuné boutique and a Café Kitsuné.

To move those plans forward in Asia for 2019, Maison Kitsuné has signed a 50/50 joint venture with China-based company, JoeOne to break ground in Greater China. The partnership, known as Maison Kitsuné China Co. Ltd., will operate the brand’s fashion business in mainland China, Hong Kong and Macau.

Maison Kitsuné and China-based JoeOne form joint venture

The company will be building upon the success of the brand’s existing store in Hong Kong, stated Maison Kitsuné in a statement, and will also be implementing an expansion plan to add 50 points of sale in the next 5 years, starting in September 2019 with the opening of three stores in Hong Kong, Shanghai and Chengdu.

In addition to developing the retail network, Maison Kitsuné China Co. Ltd. will also oversee the brand’s wholesale distribution, as well as manage e-commerce to o er a seamless web consumer experience.

“We are thrilled to be partnering with JoeOne on this exciting joint venture which will provide Maison Kitsuné with broad resources to boost our business in Greater China,” said Gildas Loaëc, Maison Kitsuné co-founder in a statement. “JoeOne’s deep expertise and knowledge of the Chinese retail market and consumers make them an ideal partner to develop our long-term growth strategy in the region.”

JoeOne was founded in 1989 and is a household brand in the region for its menswear and has 2700 stores across China. In 2016, the company began a platform-based, multi-brand and omnichannel strategy, which includes a fashion platforms that helps each brand focus on its own market segment in its own style, and Maison Kitsuné is the latest brand to tapped into the offering to target fashion-savvy Chinese consumers.

Maison Kitsuné was created in 2002 by Gildas Loaëc and Masaya Kuroki and offers a unique offering that includes fashion, music and coffee shops, and in 2020 a hotel in Bali, Indonesia. The brand has owns and operates 17 locations across Paris, New York City, Tokyo, Kyoto, Osaka, Hong Kong, Honolulu and Seoul, as well as having more than 400 points of sale worldwide. It generates more than 40 million euros in annual revenue.

Images: courtesy of Maison Kitsuné

 

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