Chinese fast-fashion retailer Urban Revivo, which outperforms Zara and H&M on its home turf, had the official launch of its largest overseas store on Thursday in Bangkok as it continues an international push that also includes coming stores in London and New York.
“We strive to become the world’s most influential fashion brand, whether in China, Southeast Asia, or markets across Europe and the Americas,” Leo Li Mingguang, chairman and CEO of parent company Fashion Momentum Group (FMG), said at a briefing in the Thai capital on Thursday.
Going global can not only capture the spending power of global consumers but also provide benefits like early feedback that can help the company make adjustments to its product line-up and marketing strategy, Li said. It signed contracts recently for its planned New York and London locations.
“Chinese companies often focus on achieving significant scale domestically before expanding overseas, which is a valid strategy,” Li said. “But if you look at brands in the US, many are global from day one.”
FMG is reportedly planning to raise more than US$100 million via an initial public offering in Hong Kong. FMG declined to provide details on the timeline of the listing.
Urban Revivo’s store in One Bangkok, at the heart of the city, spans close to 3,000 square metres. Nearby is the first overseas location of Benlai, FMG’s casual brand that emphasises sustainable materials and enhanced functionality. The Benlai store, unveiled simultaneously, spans 1,286 square metres.
Li likes the brands’ chances in the international arena.
