Update: MGS Distribution are still the sole distributors for Juicy Couture timepieces in the UK and this agreement has not been effected by yesterday’s annoucement.
Folli Follie Group (FF Group) has announced an exclusive long-term partnership with US fashion and accessories brand Juicy Couture, becoming its European wholesale and retail distributor.
The partnership with Juicy Couture owner Authentic Brands Group aims to strengthen the presence of the fashion brand across Europe. As part of the deal, FF Group will acquire and grow the number of existing Juicy Couture retail stores and plans to drive the growth of new and ongoing wholesale accounts in all European markets.
The Juicy Couture store acquisition will start with three retail locations in the United Kingdom, including the brand’s Regent Street flagship, its Westfield London store and its shop in Bluewater Shopping Centre, as well as three Juicy Couture outlets in Bicester Village in the United Kingdom, La Roca Village in Spain and Kildare Village in Ireland.
According to a statement from FF Group, it is committed to opening additional Juicy Couture retail stores in high-profile locations. It also plans to "continuously develop and roll out shop-in-shop concepts within department stores across European Markets".
The agreement also includes continued partnership and sales growth with existing wholesale accounts and overall expansion within the wholesale industry.
FF Group chief executive officer George Koutsolioutsos said: "Our broader strategy is to internationalise our brand portfolio through the agreement with Authentic Brands Group, further strengthening our presence in the fashion sector. Using our expertise, execution capabilities and knowledge of the markets, we welcome existing Juicy Couture customers in Europe and look forward to continue serving them successfully whilst attracting new customers to the brand. I believe this is an important strategic development for our group and it is the first step in our strategy to expand our brand portfolio to an international scale.”
FF Group acquired British jewellery brand Links of London in 2006, with a total value of about £45 million. The group also represents a number of fashion and lifestyle brands in Greece and abroad including Coach, Converse, Helly Hansen and Harley Davidson.
Authentic Brands Group chief executive officer and chairman Jamie Salter said: "We are thrilled to partner with such an established international company. Our strategic partnership with Folli Follie Group will ensure continuity for Juicy Couture in Europe as we continue to grow the presence of the brand worldwide."
Authentic Brands Group president and creative marketing officer Nick Woodhouse said the move for Juicy Couture has "ignited" the momentum that will drive the brand to reach its significant global potential in untapped locations.
FF Group has more than 700 points of sale worldwide, and has 5,900 members of staff globally.