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Danish footwear giant ECCO celebrated its newest expansion in Hong Kong today (January 26).
The Regional Managing Director of ECCO Asia Pacific Ltd, Mr Michael Sorensen, said Hong Kong was a strategically important market for the company's growth in Asia. "Hong Kong is a unique and strategic market for us, providing an ideal platform for our long-term regional business development in all areas, including retail, franchise and wholesale," he said.
In 2002, the company opened its Asia-Pacific headquarters in Hong Kong for retail, sales, sourcing, distribution and general management functions. Since its opening, the office has expanded from a team of three to some 30 employees at present. In response to its business growth, the company decided to take up larger office premises for the regional headquarters.
In addition, the company will extend its regional reach to more markets, such as Korea, from its base in Hong Kong. The Hong Kong office currently manages all activities in Mainland China, Japan, Singapore, India, The Philippines, Thailand and Taiwan.
"ECCO has been demonstrating strong confidence in the consumer market in Hong Kong. Our first concept shop in Hong Kong was opened in March, 2003, despite the outbreak of SARS. It soon proved to be the right decision. Today, we are celebrating the opening of our fifth shop in Telford Plaza. We will also continue with our steady growth here, with plans to open a flagship store, as well as additional concept shops and shop-in-shop outlets, in the next few years," Mr Sorensen said.
"Apart from retail, we continue to work closely with our business partners to increase exposure of the brand through consignment sales at department stores and franchisees. With our strengthened presence in Hong Kong and in the region, the gross turnover of ECCO in Hong Kong increased by 50% in 2005 as compared to 2004."
The Associate Director-General of Investment Promotion at Invest Hong Kong, Mr Simon Galpin, was delighted to see ECCO's continued expansion of its presence in Hong Kong, saying ECCO was an excellent case to demonstrate the opportunities that Hong Kong offered for foreign brands. "Companies could conduct a range of business activities ﷿ including retail, franchise, business and finance management, logistics and regional business development - all in one location. We wish ECCO all the best and look forward to celebrating its further expansion in Hong Kong."
Founded by Karl Toosbuy in Denmark in 1963, ECCO is a family-owned business employing approximately 9,000 staff around the world. It has more than 3,000 shops in more than 63 markets worldwide and produces 12 million pairs of shoes every year. For more information, please visit the website at www.ecco.com.
Invest Hong Kong is the Hong Kong Special Administrative Region Government department charged with encouraging and facilitating inward investment into the city by providing the support needed to establish a business presence here. For more information, please visit the website at www.investhk.gov.hk.
Ends/Thursday, January 26, 2006
Issued at HKT 14:55
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