Lotto opens new Hong Kong office
09/10/2008
Italian sports brand Lotto is to open a new office in Hong Kong. The company hopes this move will help it expand further in the Asian market.
Lotto handles the Asian distribution of all its product categories (footwear, apparel and accessories) from Hong Kong, making the special administrative region a key location. In 2007, the Asia Pacific region accountde for approximately 16% of the brand's total turnover and achieved growth of 15% compared to the previous year. Lotto is aiming for 30% growth in the region over the next five years.
Andrea Tomat, the company's president and chief executive, said: “The new office in Hong Kong is evidence of the willingness of the company to sustain growth and expansion in local markets, which are considered strategic and with a strong potential growth.”
A company spokesperson told sportstextiles.com that, after the important agreement signed with Chinese brand Li Ning in August, the opening of the new offices represented "another significant step" in Lotto's expansion into Asia.
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