Can The Asian Games Enter The Indonesian Market 361 Degrees To Open Up A New Engine For Overseas Growth?

Despite the continuous expansion of overseas markets for many years,

The proportion of international business is still at a low level. In fiscal year 2017, foreign sales accounted for only 1.7% of the total, and the internationalization of the sales level was somewhat dull.

361 degree product Indonesia Sun Department Store

As the protagonist of the Asian Games sponsorship,

Hoping to expand.

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On the eve of the opening of the Jakarta Asian Games, in August 15th, the local sports brand 361 degrees announced that the entities and online shops of PT Matahari Department Store Tbk will become the exclusive distribution channel for the brand in the Indonesia market.

361 degrees indicated that this cooperation is an important step to speed up the internationalization process.

"361 degrees from 2014 began to layout overseas markets. This cooperation with the Indonesian sun department store will undoubtedly help us further promote the layout of the international market," said Ding Wu, President of the company.

As the largest department store in Indonesia, sun department store has 155 stores and more than 40 thousand employees in 74 domestic cities. It has been selected as 500 of the Asia Pacific retail industry.

Sun department stores sell products through Matahari.com stores and online channels, mainly for the middle class to provide fashion apparel, beauty products and shoes.

Richard Gibson, chief executive of sun department store, said, "Indonesian consumers want to see a brand new sports brand."

It is reported that in August this year, the 361 degree product will be landing at 15 stores in sun department store, and will be on the shelves of all 155 stores in June 2019.

Meanwhile, since 2019, sun department stores has opened 361 stores in 10 major cities in Indonesia every year.

In 2014, 361 degrees officially entered the overseas market. Its entry is functional high-end running product.

Liu Wenting, director of media and digital marketing at 361 degree, said in an interview with interface news that in the past two years, Sensation series running shoes have received a good response in North America on the basis of cost-effective performance and design for overseas product lines.

In order to speed up the development of overseas markets, during the Rio Olympics in 2016, 361 degrees served as official support providers for volunteers, technology, medical and competition service providers.

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This move helped brands enter the South American market. The number of stores in Brazil increased by more than 100% from the end of 2015, reaching 1241 at the end of 2017.

In 2018, the focus of the 361 degree Games was the Asian Games in Jakarta. This is the third consecutive sponsorship of the Asian Games after the 2010 Asian Games in Guangzhou and the 2014 Asian Games in Inchon. The aim is to enhance the global influence of the brand.

The Asian Games will be held from August 18th to September 2nd. The 361 degree has already been around the competition in marketing advertisements and equipment costumes.

In addition, the 361 degree attempted to take the opportunity to enter the Indonesian market in an all-round way.

In fact, most of the internationalization of local sports brands tended to choose Southeast Asia and avoid a strong European and American market.

At the same time, local brands have more cost-effective products targeting the low-end market, especially for emerging markets with great potential.

By the end of 2017, 361 were covered in more than 20 countries and regions, and 1241, 1030, 378 and 40 sales outlets in Brazil, the United States, Europe and Taiwan respectively.

Despite continuous expansion over the years

But its international business share is still at a low level.

Earnings data show that in fiscal year 2016, 361 degree overseas business sales increased by 80.54% over the same period, but only accounted for 1.6% of total sales.

In fiscal year 2017, the ratio was 1.7% - from the perspective of sales, its internationalization process was rather dull.

Now, entering the Indonesian market, 361 degree expectation is in

Taste the sweetness.