Underwear brand L. ten Cate targets international expansion
Dutch underwear label L. ten Cate is targeting a European expansion.
The company will enter the German and English market and intends to open ten to fifteen brand stores in the Netherlands in early 2019, reports Dutch newspaper Het Financieele Dagblad (FD).
L. ten Cate has recently launched an e-store for English consumers and the German market will follow in two weeks. The brand also operates a distribution center in Great Britain and partners with department store chains Debenhams and Beales, offering slips, bras and swimwear, according to FD.
The brand told the newspaper that exports currently generate about €800,000 in revenue, which the company would like to increase to €5 million in the next four years. The European expansion should increase the label’s total revenue. According to FD, last years turnover came in at €24 million, which L. ten Cate aims to double in the coming four years.
To realize the expected growth, the brand revamped its branding and collections in 2017and also launched new products such as pajamas. L. ten Cate also aims to invest in online sales and physical stores in medium-sized cities in the Netherlands such as Almere and Tilburg, according to FD.
L. ten Cate launched in 1952 and was created by Loets ten Cate. The brand also operates swimwear labels Tweka and TC Wow. In 2015, The Hague-based private equity firm Antea acquired the labels.
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