Greek-based international holding company Folli Follie Group has reached an accord with parent company, Authentic Brands Group LLC, to undertake the exclusive wholesale and retail distribution rights for the Juicy Couture label in the UK, Ireland, Cyprus, as well as continental Europe.
The group has assured that it will continue to build up the labels retail presence throughout Europe, and begin by focusing on Juicy Couture's flagship store on Regent Street in London. This announcement comes after Drapers previously reported that the fashion label was looking to close its British flagship stores.
George Koutsolioutsos, chief executive officer of Folli Follie Group commented: “Entering 2014, we are extremely pleased to share some exciting news regarding Folli Follie Group. Our broader strategy to internationalize our brand portfolio continues through the agreement with Authentic Brands Group, further strengthening our presence in the Fashion sector. Using our expertise, execution capabilities and knowledge of the markets, we welcome existing Juicy Couture customers in Europe and look forward to continue serving them successfully and to attract new customers as well.
“Even though the agreement currently calls for European countries, our international reach across all distribution channels we currently operate (retail, wholesale, outlets, travel retail) in different continents and our global partners, may ensure further expansion of the scope of the agreement. I believe this is an important strategic development for our Group and it is the first step in our strategy to expand our brand portfolio to an international scale,” concluded Koutsolioutsos.
Folli Follie Group currently operates in over 28 countries and is best known for its own brands; Links of London and Folli Follie. The Group is also one of the bigger presences in the retail and wholesale sector in Greece and the Balkans, where brands such as Ermenegildo Zegna, Nike, Converse, G-Star, Guess and Calvin Klein belong to the group's local portfolio.