Malaysian department store retailer Parkson Retail Asia is to launch a new fashion brand LOL, in partnership with a newly established company Super Apparel Supply, jointly owned by Chong Yan Kit and Lim Kin Ann.
Together the two companies will establish a chain of retail stores branded LOL and selling fashion apparel and accessories, with Parkson owning 70 per cent of the business. Their venture will be established under an existing non-trading Parkson entity.
Parkson says the JV will give it platform for selling men’s, women’s and children’s apparel, shoes and accessories ”to the mass market”.
No other information has been released to date, including when and where the first stores will open or whether the brand will be launched outside Malaysia.
Based on its name and the company’s wording, LOL appears to be a fast fashion or outlet concept, perhaps taking the fight back to Uniqlo which is expanding rapidly in Southeast Asia on a value offer.