LÄTTLIV Signed Agreement to Enter Panam Market
LÄTTLIV International, a Scandinavian style fast fashion retailer headquartered in Guangzhou, signed a cooperation agreement to enter the Panama market on 27th March, 2018.
Ms Jin Yan, Vice President of Lätt Liv, Mr. Jiang Chunfeng, Director of the Overseas Business Dept. of Lätt Liv, and other executives of Lätt Liv attended the signing ceremony.
It is learned that the mysterious Panamanian party showed up on the signing ceremony was LILY SYLVER S.A., the largest jewellery wholesaler in Panama establishment in 2005, with current 80% of the Panamanian jewellery market share. Their success is not just well-known locally in Panama, they also have great impact in most Central and South American countries by exporting.
The signing and performance of the agreement opens up new channels for Lätt Liv’s global expansion and sets up a bridge for the fast fashion retailing industry in the two countries. This is another big step taken by Lätt Liv to the global market following the agreement signed with Philippine market and Indonesian market.
During the ceremony, Mr. Jiang Chunfeng, Director of the Overseas Business Dept. Lätt Liv, delivered an important speech. He believed that the cooperation will become an important opportunity for a win-win result both in benefit and development. He also sent his regards, looking forward to creating a prosperous feature in Panama together.
Nowadays, the traditional department stores and retailers are hard to survive under the strike of rapid growth of E-commerce. However, fast-fashion brands such as the most remarkable Lätt Liv rose and kept up with consumers’ new buying patterns. With the trends of restructuring and reshaping of the retailing industry, Lätt Liv expands rapidly. Till now, there are more than 500 stores opened in China. According to the data report, monthly turnover of a single store exceeded 600,000 RMB, and the total annual growth rate even exceeds 200%.
In the year 2017, Lätt Liv has drafted a great marketing strategic layout of global expansion of chain stores. Based in China, Lätt Liv has aimed at Pakistan, Malaysia, Southeast Asia, the Middle East and Hong Kong as the Phase I of development. Since the opening of the very first oversea store in Pakistan by the end of January this year, Lätt Liv has attracted local consumers successfully. Grand opening of stores in the Philippines and the Middle East are ready to launch soon. Hello world! Here comes Lätt Liv. Take that!