Japan’s Stripe Intl acquires 70% stake in Vietnamese fashion retail brand

Japan’s casual clothing company Stripe International has acquired a 70 per cent stake in Vietnam’s Global Fashion, which owns women’s accessories brand Vascara, for an undisclosed sum, according to a statement.

This is the second acquisition by Okayama-based Stripe in Vietnam after it bought local apparel company Nem Group in 2017. Hanoi-based Nem currently operates 80 stores across the country.

“We see the potential of the Vietnamese fashion market, especially the footwear and bags industry. Vascara is a brand that has great potential for development, so we believe that the experience and technology accumulated from many markets around the world will accompany and support Vascara to accelerate development, expand the system of stores and serve millions of Vietnamese consumers,” said Harigae Tsutomu, general director and CEO of Stripe SaiGon.

Established in 2007, Global Fashion is a local shoes and bags manufacturer with 134 outlets across Vietnam. The company claims its brand Vascara catered to over 1.5 million shoppers in 2018.

Founded in 1994, Stripe International currently owns 20 brands. Stripe largely focuses on fashion but has also expanded into restaurants and hotels.

In the long run, the Japanese company aims to achieve sales of 8 billion yen and an operating profit margin of 25 per cent in Vietnam, Nikkei Asian Review reported.

Vietnam’s fashion market has been increasingly catching the attention of Japanese investors. In February this year, Japanese buyout firm Advantage Partners, through its Asia Fund, acquired Elise Fashion, a local fashion brand targeted at women. The transaction marked the first acquisition of a company in Vietnam by Advantage Partners.

 

 

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Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.