Product lifecycle management (PLM) software provider Centric Software has opened its first Asian office in Shanghai, as part of efforts to expand its presence in the region.

The office will be the fifth overseas location for Centric, and comes after the company secured US$24m in growth capital from financiers including Fung Capital USA - the investment arm of Hong Kong-based Fung Group, which includes Li & Fung. 

"Looking at the world market, China represents one of the biggest opportunities in the apparel and conumer products market, with both brands and retailers," said Centric president and CEO Chris Groves.

"Centric has a tremendous amount to offer these companies as they grow and expand internationally. The time is now for PLM adoption, and specifically for adoption of flexible, configurable software like the Centric 8 PLM solution."

He later added: "The market is ripe for PLM's efficiency, business benefits and ability to manage market complexities." 

Earlier this year, women's wear retailer Cache Cache China became Centric's first customer in China, implementing the Centric 8 PLM solution across all of its product lines. Footwear and accessories manufacturer The Sak is also deploying Centric 8 with its product development team in China.

Click here for further insight on Centric Software's plans to expand into Asia.