China to become second largest market for Marc Jacobs
American premium fashion brand Marc Jacobs (owned by LVMH) plans to triple its marketing budget in China aiming to establish it as its second largest market after the U.S. Marc Jacobs CEO Bertrand Stalla-Bourdillon recently told the South China Morning Post that he wanted to copy the success story of Marc Jacobs in Japan.
“Clearly the mainland China market has great potential. After Japan, we want to go for China. Japan is our No 1 foreign country market for now and I think China has the potential to be the next Japan,” said Stalla-Bourdillon. To achieve this goal, Stalla-Bourdillon wants to add five to six stores a year on the mainland over the next few years and triple the marketing and promotion budget.
Marc Jacobs also plans to add three to five new stores over the next five years in Hong Kong, a top shopping destination for mainland travellers, he said. Currently Marc Jacobs has 25 stores on the mainland and 13 in Hong Kong.