Italian sportswear brand Sweet Years has opened its fourth store under the SY32 By Sweet Years insignia in Tokyo, Shibuya, and wants to expand its presence in Japan and Asia.
Sweet Years was born in 2003 and co-founded, among others, by soccer players Paolo Maldini and Bobo Vieri. It is owned by Go Old ’50 srl, managed by CEO Mauro Russo.
After it consolidated its offer of apparel for men, women and kids, it has started to grow as a lifestyle label pursuing a brand-extension strategy through licensing agreements in different segments including accessories, fragrances, footwear, bags, beachwear and eyewear, among others.
The SY32 by Sweet Years brand was launched in 2013 with the aim to meet Asian self-confident consumers’ interest for young and modern products.
Here, Fabio Renzetti, marketing and licensing development director of Sweet Years, explains Sweet Years’ next objectives.
What aims is Sweet Years focused on?
The brand has reached significant results in the past and most especially thanks to its stylized heart-shaped logo and a key product, the T-shirt. Through the years the brand has developed a brand extension policy strategy based upon two main aspects–product diversification and international development, especially in Asian countries.
By end 2019 it aims to reach €23 million in revenues and in the future it forecasts to register a yearly growth of about 10%, depending upon its growth in China.
How and where is Sweet Years distributed?
It is distributed in Italy, Japan, United Arab Emirates and Saudi Arabia. It is not sold in China yet, but we are working at starting being sold there, too.
In Italy it sells through over 800 multibrand wholesale stores and some big organized distribution partners such as Carrefour, Finiper and Coop.
How did Sweet years start selling in Japan?
Sweet Years started there between 2006-10. In 2013 it started its first five-year licensing contract for production and distribution with Long Yong, a specialized local partner. Since 2017 it is sold through premium level stores as it started being distributed through the four main department stores Isetan, Seibu, Takashimaya and Daimaru.
What are your next plans for Japan?
Just recently, we have renewed this contract with Long Yong for three more years. This agreement will help us further growing here through SY32 by Sweet Years, a brand purposely created for the Japanese and Asian markets that mostly offers menswear–apart from a few items for women and kids–and is aimed at a new male consumer, a sporty-urban dandy who is self conscious, modern and contemporary.
In Japan we want to develop through two parallel directions: On the one side we want to consolidate the presence of Sweet Years through the wholesale channel and in some of most important department stores of the country including Seibu, Daimaru and Isetan with the aim to sell through a total of 100 doors, including premium multibrand and department stores.
On the other side we want to open a total of eight SY32 by Sweet Years stores by 2021. A few weeks ago we opened our fourth SY32 store in Tokyo, in the Shibuya area, that adds up to three previously opened ones always in Tokyo, in Ginza, and in two department stores in Fukuoka and Osaka.
This fourth opening is strategic for our growth in the Asian market as it attracts a young and modern clientele always looking for new trends.
Our next step after Japan will be entering Korea.