Original Source: Modaes
July 9, 2018
Komax, the current representative of Brooks Brothers in Chile, will continue to commercialize the American brand in the country during the next ten years, according to an agreement between the two companies.
Komax will thus devote resources to strengthen the six Brooks Brothers stores it manages in Chile and promote the online channel. E-commerce currently generates 5% of sales in the country and the target is 20%, according to El Financiero.
Brooks Brothers has been present in the Chilean market since 2006, when it opened a point of sale in Parque Arauco. The distributor of the brand in Chile plans to double its turnover in a decade.
Komax continues taking firm steps in its country. The Chilean distributor, which also has exclusive licenses for Gap, Banana Republic and The North Face, among others, will open ten stores in its local market, and is also evaluating an entry into Uruguay or other countries in South America.
The group recently launched the e-commerce platforms for Gap and Banana Republic in Latin America and plans to reach total sales of $100 million dollars in 2020, especially after selling the licenses for Roxy and Quiksilver in 2017, therefore freeing up capital to drive the rest of the business.