SMI secures exclusive rights to distribute and market Havaianas flip-flops brand in Myanmar

  • A 5-year exclusive distribution agreement of Havaianas in Myanmar which may be extended for another 5 years after the initial period by mutual agreement
  • Pipeline to open a network of Havaianas concept stores and shop-in-shop across Myanmar
  • The differentiated product offerings of Havaianas will further broaden the variety and diversity of SMI’s retail brand portfolio in Myanmar

 

Singapore, 8th October 2018 – Mainboard-listed Singapore Myanmar Investco Limited (“SMI” or “Company” and together with its subsidiaries, the “Group”), a progressive business group with a primary focus on Myanmar, is pleased to announce that it has secured exclusive rights to distribute and market Brazilian flip flops brand, Havaianas, in Myanmar.

 

Established in Brazil in 1962, Havaianas has been credited as the original rubber flip flops noted for its patented designs. Since then, Havaianas has gained global popularity with its new styles, fun colours and comfort. The brand is sold in more than 110 countries worldwide.

 

Aligned with the Group’s ongoing strategy to enhance its global multi-brand retail portfolio in Myanmar, the exclusive distribution rights of Havaianas in Myanmar will further broaden the variety and diversity of SMI’s retail presence in Myanmar.

 

Combining the global appeal of Havaianas with SMI’s retail management expertise in Myanmar, the Group is well-positioned to develop the Havaianas brand in Myanmar.

 

Commenting on this latest exclusive distribution agreement, Mr. Mark Bedingham, President and Chief Executive Officer of SMI, said: “Especially suited to Myanmar’s’s tropical climate, Havaianas will be widely welcomed by the increasingly brand-conscious and fashionable consumers in Myanmar’s major cities.

 

We expect to further broaden the distribution and marketing of Havaianas across all major tourist destinations in the country as well.”

 

Source: SMI Press Release

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