ITOCHU Announces Acquisition of Exclusive Import and Distribution Rights of the United Kingdom FitFlop Brand
March 10, 2015
ITOCHU Corporation (headquartered in Minato-ku, Tokyo; Masahiro Okafuji, President & CEO; hereinafter “ITOCHU”) announced today that it has acquired exclusive import and distribution rights in the Japanese market for FitFlop, a brand of London origin for comfortable footwear owned by FitFlop Limited (headquartered in England, with company number 6436347 whose registered office is at Eighth Floor, 6 New Street Square, London, EC4A 3AQ, United Kingdom, hereinafter “FitFlop”). Market release of the brand will begin in the 2015 autumn/winter season through Doshisha Corporation (headquartered in Chuo-ku, Osaka; Masayuki Nomura, President and COO; hereinafter “DOSHISHA”).
FitFlop was founded in London in 2007 by Marcia Kilgore, founder of the revolutionary Bliss Spa and the highly successful cosmetics brand Soap & Glory. FitFlop was Marcia’s first foray outside the beauty arena and she worked with Dr Dave Cook and Darren James – biomechanists at London South Bank University – to research a pressure-diffusing, shock-absorbing triple-density Microwobbleboard™ midsole, and then built a sandal brand around it. 2013 saw the launch of FF2 collection – offering laceups, loafers, ballerinas and boots in a range of fashion-friendly, slim line styles. It was another immediate hit with FitFlop fans. Now a global footwear phenomenon, FitFlop makes shoes, sneakers, clogs, boots, ballet pumps and slippers alongside its classic sandals, and has sold over 24 million pairs since launch, in 54 countries.
In conjunction with the release of the FitFlop brand in the Japanese market, ITOCHU will leverage DOSHISHA’s abundant experience as well as its diversified sales networks and target sophisticated consumers regardless of age or gender who love healthy and fashionable lifestyle. Moving forward, the brands will be sold in department stores, specialty stores and leading boutique stores. ITOCHU will vigorously promote the worldview of the fashionable comfort shoes brand, with the aim of achieving sales of 2 billion yen on a retail basis in four years.
Retail price ranges of major items
Sandals Women’s and Men’s 7,800-21,000 yen
Sneakers, ballet shoes etc. Women’s and Men’s 7,800-24,000 yen
Boots Women’s 19,800-31,000 yen
- Excluded a consumption tax
|Company Name||Doshisha Corporation|
|President and COO||Masayuki Nomura|
|Head Office||1-5-5, Higashi-Shinsaibashi, Chuo-ku, Osaka|