Parfois eyes Asia in global expansion plan
Portuguese accessories brand Parfois is planning an expansion into Asia and Eastern Europe.
Parfois, founded in 1994, currently operates 900 stores in 65 countries and is seeking to reach its 1000th by the end of this year. The brand opened in around 10 new markets this year – including joining Alibaba’s Tmall Global platform – and while immediate plans are focusing on building its presence in Latin America, it has already begun to explore options in Asian and Eastern European countries.
Parfois’ director of marketing and communications Susana Coerver said sales in Portugal and Spain represent more than half of the firm’s revenue, with Spain by far the biggest market, prompting expansion into smaller municipalities within the country. The company also aims to expand its product range with a venture into apparel.
The brand closed the 2017 financial year with €306 million in sales, with growth expectations for the current year aiming at 20 per cent.