Anna Sui and Isetan Mitsukoshi to end licensing agreement in Japan, close 12 stores
Isetan Mitsukoshi Holdings Ltd has chosen to withdraw from its licensing agreement with US-based womenswear and accessories brand Anna Sui. The business will terminate the licensing agreement by the end of March, 2020 and close all 10 of Anna Sui’s exclusive brand stores and its two outlet stores in Japan that same day.
Isetan Mitsukoshi Holdings Ltd began retailing the Anna Sui brand at its main department store, Isetan Shinjuku, in 1995. The business then opened its first Anna Sui store under a licensing agreement in Omotesando in 1997.
Isetan Mitsukoshi’s subsidiary business Mamina was responsible for the Anna Sui stores until it was liquidated in March 2018. Following this, Isetan Mitsukoshi took over the stores itself from the spring/ summer 2018 season.
As part of its medium-term management plan, the group invested in the core stores in its domestic department stores and in new businesses in which it saw potential for growth whilst simultaneously working to increase profits by restructuring the portfolio of each business in the group. The business decided to terminate its involvement with Anna Sui because it found that it was difficult to allocate the necessary resources, such as human resources and funding, to expand and continue the business.
A total of 15 businesses hold licensing agreements with Anna Sui to retail its products in Japan. These include Kuipo, which retails its leather goods such as handbags and wallets, and Albion which retails its cosmetics. Isetan Mitsukoshi Holdings will decide whether or not Anna Sui products from other licence holders will continue retailing at each store.
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