MANILA - Japanese casual apparel retailer ANAP Inc. plans to enter the Philippines to seek growth in foreign markets, pitching mainstay spring and summer clothes in the fast-growing economy.
The company says it will form a business alliance with Tokyo-based ASEAN Beauty Holdings Inc. to launch franchise outlets for its ANAP brand as the partner runs 13 beauty salons in the Southeast Asian country and also plans to start a retail business in the region.
ANAP mainly operates stores at shopping malls in Japan. Likewise, the two plan to open stores at malls in the greater Manila region, Cebu and other cities in a year as the Philippines has a number of large malls with over 100,000 visitors each per day, the Tokyo-based retailer said in a press release last Thursday.
The company, putting a greater focus on spring and summer clothing, has picked the Philippines as the country has a hot and humid climate all through the year, its spokesman told NNA.
The Japanese apparel retailer, which has a larger proportion of sales in e-commerce than those in brick-and-mortar stores, is also considering launching online sales in the Philippines in the future, the press release said.
ANAP runs 29 stores at home as of the end of May. It posted over 4 billion yen ($38 million) in sales in the three quarters through May 31, according to the company.