Sanrio's Hello Kitty Pynkiss Label Celebrates a Year of Stratospheric Success in a Fiercely Competitive Global Market
LONDON, October 8, 2012 /PRNewswire/ --
Since her birth in the early 70's Hello Kitty has become a billion dollar a year brand, but it is only in the last year Sanrio's brand has moved into the world of high end fashion, with its Milan based Pynkiss label. Since then the brand's innovative, experiential, multi-channel 'shoppertainment' approach has seen Pynkiss shortlisted for The Field Marketing and Brand Experience Awards 2012 and the stratospheric global growth of the high end Pynkiss label has taken even the brand owners and licensors, Sanrio, by surprise.
Pynkiss, first launched at Milan Fashion Week in 2011, has since opened a raft of stores in the Middle East and Asia fuelled by demand from stockists and franchisees. Pynkiss has ambitious plans to expand its global presence further, with more stores set to open in the US, Europe and Asia. The stores that have already opened have had their shelves stripped bare within hours, and the flagship stores had to restock twice within the first 3 days of trading.
For a business only one year old, Pynkiss has performed exceptionally well against global retail projections. In 2011 the global retail market saw composite retail growth of 5.3% for established brands and Pynkiss has conformed to growth trends achieving a 4.9% increase since September 2011, within its first 12 months of trading.
There has been significant growth in retail sales across African and Middle East regions, with a steady 9.3% increase over the last 2 years, and Pynkiss' presence within the Middle East has contributed to its 4.9% total sales increase. With Pynkiss set to expand across the Asian and Pacific markets, they are looking to contribute to the 4.7% retail sales growth in these regions. A recent study found Africa and the Middle East had generated the highest compound annual growth out of all regions, and Pynkiss has also enjoyed commercial success after beginning its retail operation in the Middle East, with sales in this region exceeding all expectations.
Roberto Lanzi EMEA President of Sanrio says, "A brand that can strike a chord across so many differing cultures in its first year of trading, shows that innovative consumer experiences like 'shoppertainment' are where the global retail sector must head. The consumer wants and expects more than simply browsing and they wish to be engaged with in unique and personal ways. That is just what Pynkiss offers for consumers. Not only do the statistics back this up but a nomination for a 'shopper connection' award within the first year of trading, alongside such well respected brands as Blackberry and LG, is further iteration that this strategy works. This endorsement is beyond our most optimistic predictions for Pynkiss and to say we are delighted is an understatement!"
Founder and CEO, Chady Jriege commented at the launch of Pynkiss' huge Facebook online birthday event. "The impressive annual sales of 2011-12 has led to rapid expansion in the behind the scenes operation to facilitate further growth, with both distribution and production having to drastically intensify output by as much as 50%. The design studio and showroom has a new space at Via Morimondo, in the prestigious Milan fashion district as eager stockists and buyers seek to stock the brand or negotiate store franchise options. Pynkiss is fast becoming the must-have brand for babies, kids, teens and adults alike."
Despite the icy current financial climate Pynkiss has enjoyed a two-fold increase on turn-over for the brand in the last nine months alone, hitting what Mintel describes as 'average annual sales' figures for more well established brands in just two-thirds of the time. So it seems that on the first birthday of Pynkiss the high end brand will have more to celebrate than merely being a year old - and a grown up competitive, commercial Hello Kitty is finally coming of age.
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