In May 2019 Dragonfly took over distribution of Fossil Group’s Portfolio of Brands and Products for Vietnam. We navigated a difficult situation between our Principal and their previous local partner while stabilizing local distribution and enhancing marketing & visual execution for all Brands.
Over 2019, we tripled the local business working with our local partners to open 4 major national accounts with 150 additional points of sale added to our local distribution network. In Q1, 2020, we expanded Brand visibility by adding major marketing investments and started to enhance our e-commerce capabilities
As with Taiwan, we are working to identify new brands to add to our brand portfolio and we expect to launch an online platform in the third quarter of 2020 to assist distribution partners to better promote and sell our brands through both e-commerce and social commerce.