Japan Fashion Group Stripe acquired Vietnamese women’s apparel company NEM
Updated at Friday, 10 Nov 2017, 14:22
The Hanoitimes - NEM Vietnam is considered to have high potential for development with series of clothing stores for women across Vietnam.
This information is confirmed on the company’s website on November 08, as Stripe International – a fashion retail company from Japan will acquire the Vietnamese women’s apparel company NEM. According to the President of Stripe International Yasuharu Ishikawa, the acquisition of NEM is part of the decision to take part in Vietnam’s fashion market of the company. Stripe International is intended to expand its business in ASEAN market, in which Vietnam is an important target with high potential on population and economic growth.
NEM Vietnam is considered to have high potential for development with series of clothing stores for women across Vietnam.
NEM currently owns a series of clothing sores for women across Vietnam, which is considered to be the second largest women’s apparel company in the country, with 44 stores, which are mainly located in Hanoi and Ho Chi Minh city. Previously, in order to complete the deal, Stripe International has established its branch in Vietnam on October with the name of Stripe Vietnam. The Company is based on 545 Nguyen Van Cu, Ngoc Lam, Long Bien, Hanoi with the registered capital of 175 billion VND. It is expected that Stripe Vietnam will take over the fashion business operation of NEM. However, the exactly amount of the deal has not been confirmed yet.
According to Stripe International evaluation, NEM Vietnam owns the fashion brand NEM for women, which is considered to have high potential for development, with large number of clothing stores. The fashion brand of NEM is established in 2002, with 44 stores across the country and the target customers is women in range from 20 – 40 years of age. The revenue of NEM in 2017 is expected to be at 26 million USD, up 20% compared to the same period of last year.
In FY2015, group sales of Stripe International surpassed 120 billion yen. From FY2015, the company expanded into the “Lifestyle & Technology” business field and widened our business activities, such as with the start of our fashion rental service for monthly fee,“MECHAKARI”. In FY2016, Stripe International made further investments in our future, such as an acquisition of the women’s apparel company “ALPHABET PASTEL Co, Ltd.” and baby & kids apparel e-commerce business “Smarby, Inc.”. The company also invested in the French "lifestyle" company “Kitsuné Creative S.A.S”, as well as developed new brands; “AMERICAN HOLIC”, women's apparel brand, and the soy food brand “913”. Furthermore, its globally strategic brand “koé” opened its first store in central Tokyo, the "lifestyle" store “KOE HOUSE Jiyugaoka”.
In FY2017, in addition to further strengthening e-commerce and technology businesses, mainly that of "MECHAKARI", Stripe International plan to open large select clothing shops in China, as well as its global flagship store in Shibuya. The company aims to proactively expand business activities both domestically and overseas, including the launching of our new brand “GARAGE OF GOOD CLOTHING”. As such, it will continue to proactively consider various strategic options including additional M&A and capital investments.