Asia is the place to be for brands. French brand Longchamp’s CEO Jean Cassegrain has shared that up to 25 per cent of sales are derived from Asia, with almost half of its customer-base being Asian.
Needless to say, the brand sees Asia as a major contributor to the brand’s global growth. In an exclusive the The Straits Times, Cassegrain said that the ‘Southeast Asia market are mature luxury shoppers’, confirming further expansion into the region.
“Customers in Singapore are well educated on luxury, perhaps more so than in China and Taiwan, where luxury consumers are more in discovery mode,” he said in the interview, adding: “It just shows the enormous opportunity Southeast Asia still holds for us to grow our business. We are far from reaching our potential in Asia.”
The family-owned luxury brand has been operating for over 68 years and owns a network of 300 retail stores across 24 countries, and has franchise partnership with over 80 markets. Sales revenue for the brand reached USD621 million in year 2015.