Folli Follie Group has struck a deal with Juicy Couture parent company Authentic Brands Group to manage the exclusive wholesale and retail distribution rights for the young fashion brand across Continental Europe, UK, Ireland and Cyprus.
Juicy Couture had been looking to offload its Regent Street and Bluewater stores in a similar vein to its strategy in the US where it is closing all stores to focus on its wholesale arm.
However Folli Follie Group said as a result of the deal Juicy Couture will keep both of the shops open. It also plans to expand Juicy Couture’s presence in Europe.
Folli Follie Group chief executive George Koutsolioutsos hinted that the distribution agreement may stretch beyond Continental Europe.
He said: “Even though the agreement currently calls for European countries, our international reach across all distribution channels we currently operate in different continents and our global partners, may ensure further expansion of the scope of the agreement. I believe this is an important strategic development for our group and it is the first step in our strategy to expand our brand portfolio to an international scale.”
Folli Follie Group owns jewellery and accessories brand Folli Follie and jeweller Links of London, and also distributes brands such as Nike, Converse, Samsonite, Guess, Calvin Klein and G-Star.