Expanding Retail: Opening 100 Retail Stores Worldwide
Global tech accessory brand CASETiFY has revealed its growth strategy and plans for the first time since its establishment.
The core growth strategy focuses on retail expansion, aiming to open 100 retail stores worldwide by 2025, achieve annual sales of $3 billion (4.152 trillion KRW), and capture approximately 15% market share in the global tech accessory market.
Since its founding in Hong Kong in 2011, CASETiFY has achieved a compound annual growth rate (CAGR) of 70% over the past five years. In 2020, when it first expanded into offline stores, it recorded total sales of $125 million.
Currently, it operates 18 directly managed stores mainly in the Asia-Pacific region and plans to open its first retail store in the United States this month. In June 2021, CASETiFY received a large-scale investment from C Ventures, a Hong Kong venture capital firm founded by Adrian Cheng.
Its main products include premium smartphone cases and tech accessories featuring stylish designs and strong protection rarely seen in the existing market, receiving great response from the MZ generation.
Wesley Ng, CEO and co-founder of CASETiFY, said, “CASETiFY products are like a canvas for self-expression,” adding, “With countless designs born from various customization options, rich collaborations, and continuous development of cutting-edge materials that provide strong protection, every customer can create their own unique case.” He continued, “Our goal is to build a creative hub that encompasses all styles and personalities in the world, offering ample choices. Whether it’s pop culture or minimal design, there is a design for everyone.”
CASETiFY employs a social-first marketing strategy and enjoys high recognition, with one in five Gen Z consumers aware of the brand through social media. According to Google Trends, it is also the most searched tech accessory worldwide.
Recently, CASETiFY was selected for FastCompany’s ‘2022 World Changing Ideas Award’ for its unique eco-friendly technology Re/CASETiFY, which upcycles plastic into new cases.
In addition to its headquarters in Hong Kong, CASETiFY has offices in Los Angeles, Shanghai, Seoul, and Tokyo, employing 1,000 staff from over 20 nationalities, growing into a successful D2C company.
Looking ahead to 2023, CASETiFY plans even more aggressive expansion, with additional retail openings planned in the U.S., South Korea, Australia, China, and Japan.
More information about CASETiFY can be found on its website and official channels, and all products support worldwide shipping and are sold both online and offline.
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