Luxury brand Longchamp sets its eyes on China
French luxury fashion house Longchamp plans to open more stores in China in order to expand its presence, considering the huge growth potential, Longchamp CEO Jean Cassegrain said.
"Currently, we have 18 stores in China. There is a potential for us to open stores at new locations and there are still cities where we are not present," said Cassegrain.
He said the Chinese economy is still growing, and more and more people consider buying luxury products due to higher incomes, adding he is confident with the company's prospects in the Chinese market.
"In October, we will open a new store in Beijing, at a landmark shopping mall on Wangfujing Street," he said, adding they are considering opening stores in second-tier cities such as Changsha.
The Paris-based Longchamp opened its China flagship store at the Kerry Center in the heart of Shanghai on Thursday.
The store will present the widest range of the house's collections in China, including women's ready-to-wear, shoes, handbags, leather accessories, men's collections and luggage bags.
The new store in Shanghai is a major investment and significant step for the brand, according to Cassegrain.
Apart from brick-and-mortar stores, Chinese customers can buy products via online platforms such as the official WeChat account of Longchamp. "It is our plan to continue developing online channels in China," Cassegrain said.
Founded in Paris in 1948, Longchamp is still currently owned and run by the Cassegrain family, with its products ranging from handbags, luggage, accessories, and shoes to ready-to-wear collections. It is available in 80 countries through a network of 1,500 points of sale.