Announcement of MOU Agreement to Establish a Joint Venture
World Co., Ltd. has signed an MOU agreement with the Saha Group (headquarters: Bangkok, Thailand; Chairman: Boonsithi Chokwatana), a leading corporate group in Thailand, to establish a joint venture for developing the TAKEO KIKUCHI men’s brand in Thailand.
1. Reason for establishing the joint venture
The Saha Group, one of Thailand’s largest corporate groups, is involved in the manufacture, distribution and sales of a broad range of consumer products, including cosmetics, clothing, food products and daily goods. It has more than 300 affiliates in the country and abroad and has formed roughly 80 business alliances and joint ventures with leading Japanese companies over the years.
Furthermore, the Group’s background in manufacturing encompasses the production of textiles and sewing, and the Group is focused on developing its fashion business, including licensed apparel and original brands centered on men’s clothing.
World has been developing its international business by opening stores, primarily in Asia, each matching the local characteristics and tastes. In Thailand, we will launch TAKEO KIKUCHI, which is marketed primarily through the department store channel at 126 stores in Japan as our core men’s brand and enjoys overwhelming support from men aged around forty.
The establishment of the joint venture marks World’s first entry into the Thai market. The joint venture will work toward launching the first TAKEO KIKUCHI store in Thailand in spring 2017 and maximizing the companies’ respective strengths to establish a solid business base in Thailand, the regional hub of the rapidly growing fashion market in ASEAN (Association of Southeast Asian Nations).
Additional information on the schedule and overview of the joint venture will be available as soon as decisions have been finalized.
2. Overview of the Saha Group
|(1) Name||Saha Group|
|(2) Main office||Bangkok, the Kingdom of Thailand|
|(3) Representative||Chairman: Boonsithi Chokwatana|
|(4) Main business||Manufacturing, management of industrial parks, retail, distribution and others.|
Overview of the TAKEO KIKUCHI brand
|Brand name||TAKEO KIKUCHI (since autumn/winter 1984)|
|Concept||A Tokyo-based brand for attractive and playful men who effortlessly embrace fashionable styles. A full styling for various situations in a man’s life and drawing from manufacturing excellence and a historically-proven reliable quality.|
|Target customers||Men aged around forty|
|Product composition||Apparel, fashion accessories|
|Marketing channel and number of stores in Japan||Primary channel: department stores; 126 stores nationwide (as of May 2016)|