Flying Tiger Copenhagen, a Denmark-based retailer, is expanding its Southeast Asian development by launching its first physical stores in Indonesia and the Philippines. The company has recently inked a franchise deal with SSI Group to open its first shop in the Philippines, at Glorietta 4 in Makati, marking the brand’s first entry into Southeast Asia. Meanwhile, Flying Tiger Copenhagen has teamed with a local retail giant, PT Mitra Adiperkasa Tbk, to build its outlets in Indonesia.
The firm believes that the two markets have large potential for the brand and that its goods and design will be well-received by more Asian customers. The firm intends to continue extending its footprint in Asia, where it is already present in Japan and South Korea.
According to Flying Tiger Copenhagen’s CEO, the Danish company has already signed contracts for nearly half of the extra 1,000 facilities it expects to launch over the next five years as it expands into Asia to more than double its worldwide store count. The business aims to build an Asian headquarters in Singapore and will avoid China, which the CEO describing it as a “very complex and differentiated” market.
Flying Tiger Copenhagen, which was formed in 1995, sells a wide range of items such as sports and wellness, cuisine, food, and stationery. The company operates 892 outlets in 33 countries.
(Source: Inside Retail Asia)