Pleasure State all cashed up for the US
SYDNEY: Australian intimate apparel brand Pleasure State has enlisted a high-profile investor to ramp up its assault on the US market.
As part of an aggressive, two-year expansion strategy into American retailers and department stores, Pleasure State will receive strategic and financial backing from former advertising guru John Singleton.
While the company declined to comment on the value of Singleton's investment, managing director Justin Davis-Rice said it would be incremental in supporting growing back-end and operational costs.
"When we look at Pleasure State as a brand, our objective as a company is to build a substantial international brand in intimates. We expect that two years from today Pleasure State will be a major player in the US market. In order to do that, it's costing us a lot of money."
Along with establishing a new branch in New York's central business district, Pleasure State is also expanding its production, design and marketing facilities to meet new demand. This would include eight additions to its design department, new manufacturing agreements within the Asian and Indian markets and an increased investment in public relations.
Rice said Singleton, whom he was formally introduced to through a mutual friend, jumped at the opportunity to take the Australian brand to a much wider international audience.
"John realised, very quickly, the opportunity this business had with our strategy into the US market."
Currently in an exclusive partnership with US intimate apparel giant Victoria's Secret, Rice said Pleasure State would initiate a separate rollout of its couture and white label collections into retailers from January next year. Rice said the company would adopt a similar model to the one it had with Australian department store Myer; using shop-in-shop concepts, specialised branding and in-store fittings.
"I see it as a strategic development for Pleasure State to partner with Myer and build brand presence in Australia and then use that model overseas."
By Assia Benmedjdoub