Thinking about taking your business global? Learn from the best.
1. Honey Birdette: CEO Eloise Monaghan
"We entered the UK in October last year. We kicked off with our first ever High Street store on Long Acre in Covent Garden. High Street is not in the volume in Australia that it is in the UK. Leeds came one month after this and then White City we pushed to have open before Christmas. It's been a steep learning curve given the differences in banking, land taxes, building costs and leases. Understanding these differences quicker and of course the differences in the customer will be key to our success."
2. Cotton On: CFO Michael Hardwick
"In late 2015, we launched region-specific sites for Hong Kong, Singapore and Malaysia, allowing us to localise our product offering and tailor our marketing to better meet the expectations of our customers. As we set our sights on increasing our reach on an international scale, we will continue to work closely with our in-market team and license partners to identify opportunities for further growth in line with our customers' expectations."
3. Kathmandu: CEO Xavier Simonet
"There are two channels we are looking into for international expansion. One is the direct to consumer online approach, through our online platform. Something a lot of other brands in the outdoor industry do is wholesale partnerships with multi-brand retailers in Europe. The problem in the UK has never been around the brand or the products. The problem was that the model we had, based on having our own stores, was unprofitable. High rent, high operating costs, pressure on gross margin. We've engaged with potential retailers we could work with on a wholesale basis and the traction is good."
