Japanese conglomerate Mitsui has acquired a minority stake in Singapore-based apparel retailer Triple for an undisclosed amount.

Triple, a wholesaler of American sportswear brand Under Armour, operates brand stores, shop-in-shop operations, wholesale distribution and e-commerce in Southeast Asian countries.

Go deeper with GlobalData

Data Insights

The gold standard of business intelligence.

Find out more

Related Company Profiles

View all

Triple currently has five Under Armour stores and shop-in-shop outlets in Singapore and three in the Philippines and three in Malaysia.

Triple CEO Michael Binger was quoted by DealStreetAsia as saying: "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."

The retailer plans to open four new outlets this year, and around six in 2016 across Singapore, Malaysia and Thailand.

Triple intends to foray into Indonesia, Brunei and Vietnam markets with partner stores and shop-in- shop locations.

How well do you really know your competitors?

Access the most comprehensive Company Profiles on the market, powered by GlobalData. Save hours of research. Gain competitive edge.

Company Profile – free sample

Thank you!

Your download email will arrive shortly

Not ready to buy yet? Download a free sample

We are confident about the unique quality of our Company Profiles. However, we want you to make the most beneficial decision for your business, so we offer a free sample that you can download by submitting the below form

By GlobalData
Visit our Privacy Policy for more information about our services, how we may use, process and share your personal data, including information of your rights in respect of your personal data and how you can unsubscribe from future marketing communications. Our services are intended for corporate subscribers and you warrant that the email address submitted is your corporate email address.

The company expects to have approximately 35 locations, including shop-in-shop executions for the Under Armour brand by the end of 2018.

Mitsui Asia Pacific consumer service business department general manager Toshi Sakurai said: "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."