British department store retailer Debenhams is set to drive its international presence by launching in the Australian and Vietnamese markets during 2016.
The move comes on the back of agreements with local market partner VinDS, part of Vingroup, one of Vietnam’s largest private companies.
Vingroup will distribute products in their Fashion Megastore department store chain from early 2016 with selected womenswear and menswear brands sold in 15 stores across the country by the end of the year.
Debenhams Chief Executive Michael Sharp said: “International expansion is a key strategic priority for us. Selling our own brands outside of Debenhams offers a new leg of growth for the business.
“Our distribution agreement with Vingroup in Vietnam will introduce our brands to this exciting market for the first time.”
Sharp added: “The opportunity for Debenhams to expand internationally includes distributing our products to new customers, and working with Vingroup in Vietnam enables us to complement the existing Fashion Megastore offering with a clear point of difference.”
John Scott, Director of International Business Development for Debenhams said, “Working with Vingroup we will equally benefit from their market leading knowledge and expertise in the Vietnamese market. Plans to grow the Fashion Megastore concept over the coming years will see Vingroup take a dominant position in the department store sector which Debenhams will now be part of.”
Munish Rishi, CEO of VINDS (Consumer lifestyle arm of Vingroup) said, “We are pleased to announce our agreement to distribute Debenhams brands. We believe the partnership will bring significant value to our Fashion Megastore proposition and prove an attractive offer for Vietnamese consumers looking for fashionable, quality and affordable products.
“We plan to bring best of Debenhams’ brands to the market as key differentiator for our Fashion Megastore’s with 8 additional stores opening in next 2 months and a plan to launch 30 stores over next three years.”
Debenhams currently has 248 stores across 28. The company plans to grow its international business to around 30 percent of the total, through franchise expansion, international online growth and distributing owned brands beyond Debenhams franchise markets.
