Children wear Gymboree has filed bankruptcy, following the exit of its chief financial officer. Things may not be chipper and robustious in the sector, however, competitor The Children’s Place believes otherwise.
At the latest filing with Nasdaq, children apparel and accessories retailer The Children Place announced that it will be opening up stores across Southeast Asia. Their entrance into the region is in collaboration with Gill Capital, which covers Indonesia, Singapore, the Philippines and Thailand. The first of the outlet will open in Indonesia with plans of 25 other locations throughout the country.
“We are excited to be partnering with Gill Capital,” said president and chief executive officer, Jane Elfers, The Children’s Place. “They have a proven track record of operating successful brands in Southeast Asia. We are making significant strides in our international franchise business, and we remain focused on providing great fashion and value for children around the world.”
The Children Place has more than 1,033 stores across United States, Canada and Puero Rico. The brand currently distributes to 18 other countries via distribution partnerships. This is the first region the pure-play retailer will be setting up stores outside of North America.