GERMANY: Can Can Express lingerie continues Asian expansion
Lingerie brand Can Can Express has set its sights on expanding into India and other Asian countries after a successful launch into China.
The firm is using its EUR50m (US$67m) listing on the Frankfurt Stock Exchange - as Can Can Lingerie Holding AG - to finance moves into Asian markets, taking advantage of the rapid growth anticipated in the retail sector.
The Swiss firm owns the Australian Can Can Express brand and its master licensee in China has already opened several stores in the Far East.
The company is to add more stores in China in 2009-10, and is in discussions with other potential licensees in India and the USA.
Chief executive officer Michael Pakula said: "The Asian market is one of the few forecast to have any growth at all in the short term.
"Retail sales in China are expected to grow 20% per annum until 2010, compared to negative or flat projections in Western economies.
"The growth in Asia, in particular our existing Chinese market, and our entry into the Indian market, will power our expansion for several years."
Alongside the company's expansion into Asia in the next two years, Can Can is also looking to make several corporate acquisitions in 2009, and branch into Western markets in the medium to long-term.
The firm currently deals in lingerie, nightwear and accessories created by Australian designers and manufacturers. The company also has a manufacturing base in China.
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