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Tag: mitsui & co

  • Owndays sets big expansion across Asia after capital injection

    Owndays sets big expansion across Asia after capital injection

    LVMH-back private equity fund L Catterton Asia has partnered with Mitsui & Co to take an unspecified stake in fast-growing Japanese eyewear retailer Owndays. The funds will be used to accelerate the retailer’s across the Asia-Pacific region.

    Owndays, which began its Southeast Asia rollout in 2013 opening a store in Singapore, now has 115 stores in Japan and 142 stores in 10 other Asian markets, including Thailand, Vietnam and Hong Kong (where it is operated by Bluebell Group).

    In a statement, L Catterton Asia said the current management team will continue to retain “substantial equity interests” and manage the company.

    “Our ambition is to become Asia’s leading optical retailer and we plan to open more than 500 stores across the Asia Pacific region over the next five years,” said Owndays CEO Shuji Tanaka said.

    L Catterton Asia chairman and managing partner Ravi Thakran said the investment in Owndays marks the private equity company’s first foray into Japan.

    “The Owndays success story has been one of innovation, quality service and boldly exceeding customer expectations,” he said.

    “The company is poised to take advantage of the robust macro trends that are driving the market for private brand eyewear. Together, L Catterton and Mitsui & Co are committed to providing world-class operational and strategic support to propel Owndays to category-leading growth and profitability. With Japanese quality, purity and efficiency increasingly appreciated and desired around the world, we see tremendous market opportunities for Owndays.”

    President and CEO of Mitsui & Co subsidiary MCPI, Naoki Nakata, said Owndays is well placed for continued expansion, both domestically and abroad, while also improving profitability by fully leveraging Mitsui and L Catterton’s combined network, resources and demonstrable expertise in value creation.

    Since 2009, L Catterton Asia has invested in many leading consumer brands, including Gentle Monster and RM Williams and Pepe Jeans, and in lifestyle mall operator Sasseur, among others. L Catterton Asia, formerly called L Capital Asia, was formed through the partnership of Catterton, LVMH and Groupe Arnault.

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  • MDS ups stake in MatahariMall.com parent

    MDS ups stake in MatahariMall.com parent

    Matahari Department Stores (MDS) has increased its ownership in Global eCommerce Indonesia (GEI), the parent company of Indonesian eCommerce startup MatahariMall.com.

    MDS has paid Rp164.9 billion (US$12.2 million) for 7.3 billion shares, or 3.62 per cent of paid-up capital, in GEI. This gives it a 12 per cent share in total.

    MDS last ramped up its stake in GEI in January last year to 10.33 per cent, but its ownership was diluted to 8.38 per cent over the 12 months because of investments by other shareholders. In October, Mitsui & Co announced plans to inject $100 million in GEI over the next 12 months, and MDS has decided to expand its control gradually.

    “The company sees large potential in the eCommerce sector. With increased stakes in the platform, Matahari secures opportunities for huge returns in the future. We will also be able to synergise MatahariStore.com into MatahariMall’s platform, which will in turn widen reach across the country as well as boost Matahari’s net profit,” the company says in a statement.

    MDS has 148 stores in 68 cities across Indonesia.

    Proceeds from the new funding round will be used to improve market share, and to strengthen its position as Indonesia’s “leading eCommerce player”.

    MatahariMall warehouses and ships products from about 5000 affiliated sellers, and also procures goods directly to sell independently.

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  • Mitsui & Co. invests in Singapore’s analytics startup Crayon Data

    Mitsui & Co. invests in Singapore’s analytics startup Crayon Data

    Japanese conglomerate Mitsui & Co. has invested an undisclosed amount in Crayon Data, a Big Data analytics startup in Singapore, with operations in Chennai (India)

    The funds will help Crayon accelerate its global expansion, according to an official statement.

    The investment also includes a business service agreement by which Mitsui will support the launch of Crayon’s products in Japan, and the expansion of its customer assets. Crayon is looking to partner with banks, hotels, and advertising and media companies in Japan.

    Mitsui will also look to add benefits to their own subsidiaries and investee companies in retail, CRM and digital advertising.

    This announcement comes hot on the heels of Ratan Tata’s investment in Crayon Data in November last year. Crayon has previously raised approximately US$7 million in seed and Series A funding from angel investors such as Jungle Ventures and Spring Seeds.

    “We believe that personalisation, which Crayon Data brings through Big Data analysis of consumer behaviour is going to be key for every business-related to consumer interactions, across every industry and every geography,” said Noda, General Manager of IT Service Div, IT & Communication Business Unit of Mitsui & Co.

    Founded in 2012 by Srikant Sastri and Suresh Shankar, Crayon Data is an analytics startup. Unlike the conventional people-led model of analytics, Crayon builds tools that deliver real business solutions by bringing together enterprise, public, external internet and social data to a single platform.

    Its flagship product ‘Simpler Choices’ brings the power of Big Data and analytics to enterprises that enable clients increase their sales conversions and improve returns from existing accounts. The firm’s key focus verticals are hospitality, finance, retail and technology.

    The firm also offers Maya, a personalisation engine that facilitates choice delivery for the banking, hotel and digital media verticals.

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  • Japan’s Mitsui & Co picks up minority stake in Singapore retailer Triple

    Japan’s Mitsui & Co picks up minority stake in Singapore retailer Triple

    Mitsui & Co, one of Japan’s largest general trading companies, has invested in Singaporean apparel retailer Triple, taking a minority stake in the omni-channel sports and lifestyle retailer that operates brand stores, shop-in-shop operations, wholesale distribution and e-commerce in key Southeast Asian countries.

    Dating back to 1876, Mitsui & Co is a Japanese company largely involved in the energy sector, though it also has businesses in fields ranging from chemicals and iron and steel, to transportation and communications systems and food products and services. It operates over 140 offices in 65 countries.

    Triple was launched in September 2013, primarily as a wholesaler for American sportswear brand Under Armour. It maintains exclusive distributorship for the brand in nine Southeast Asian countries.

    According to Triple’s CEO, Michael Binger, talks between both parties had gone on for approximately six to eight months before the deal was completed on May 18. Binger also said that Mitsui and Triple were hoping to leverage on the partnership to drive their expansion into e-commerce.

    “Mitsui’s current strategy focuses on brand marketing in downstream sector, among which sports and lifestyle is the key category judging from the global trend. Establishing the retail network in rapidly growing market such as South-east Asia is regarded as the key element to leverage this brand marketing strategy. Triple’s participation is the best fit to these points” said Toshi Sakurai, general manager of the consumer service business department of Mitsui & Co (Asia Pacific).

    Triple has opened five Under Armour stores and shop-in-shop outlets in Singapore, three in the Philippines and three in Malaysia, all within shopping malls in prime locations. Store expansion in core markets – Singapore, Malaysia and Thailand – will see four additional store open in 2015 and five to six stores in 2016.

    Triple also plans to enter Indonesia, Brunei and Vietnam via a network of partner stores and shop-in- shop executions. They intend to open five to six new stores and approximately 10 shop-in-shop locations tin 2016. By end-2018, Triple forecasts it will have a total store network of approximately 35 locations, including shop-in-shop executions for the Under Armour brand exclusively.

    Leveraging on their current landlord relations, Triple also hopes to expand their selection of brands and increase their overall number of stores. The global apparel market is estimated to be worth around US$1.7 trillion, with 6 percent annual growth.

    Southeast Asia is particularly dynamic with a 10 percent annual growth rate. This is due to an expanding consumer market and the growth of middle-class consumers. Coupled with greater interest in health and wellness, the sportswear category has emerged as a key driver for the apparel market.

    Commenting on the deal, Binger said, “Triple sees Mitsui as a strong long-term strategic partner with good complementary strengths. Mitsui has a network of relations with brands that are not yet represented in South-east Asia, and with the wide business interests of Mitsui and Triple’s rapid growth, there will be other areas of cooperation, including logistics.”

  • Beneath Armour Asia plans enlargement

    Beneath Armour Asia plans enlargement

    Japanese buying and selling firm Mitsui & Co has purchased a stake in Singapore-based Triple, which runs Underneath Armour Asia.

    Triple thus far has 5 Beneath Armour shops and concessions in Singapore, three within the Philippines and three in Malaysia. One other 4 shops are deliberate for this yr, together with the primary in Thailand, and one other 5 or 6 in 2016. The corporate additionally plans to enter Vietnam, Indonesia and Brunei with a objective of 35 shops throughout Southeast Asia by the top of 2018.

    Mitsui, a common buying and selling enterprise, has been negotiating a stake for about eight months. It was interested in the enterprise by its robust eCommerce focus.

    Triple CEO, Michael Binger, says Mitsui and Triple hope to leverage on their new partnership to broaden the retailer’s eCommerce base throughout Asian markets, from a Singapore hub.

    Toshi Sakurai, GM of shopper service with Mitsui Asia Pacific, stated his firm’s present technique focuses on model advertising in downstream sector, amongst which sports activities and way of life is the important thing class judging from the worldwide development.

    “Establishing the retail community in quickly rising market reminiscent of Southeast Asia is considered the important thing aspect to leverage this model advertising technique.

    “Triple’s participation is the perfect match to those factors.”

    Mitsui’s funding may also assist Triple develop partnerships with different manufacturers, capitalising on its present relationships with retail landlords.

    Stated Binger: “Triple sees Mitsui as a robust long-term strategic companion with good complementary strengths. Mitsui has a community of relations with manufacturers that aren’t but represented in Southeast Asia, and with the extensive enterprise pursuits of Mitsui and Triple’s speedy progress, there might be different areas of cooperation, together with logistics.”

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