Currently, Triple has five Under Armour stores and concessions in Singapore, three in the Philippines and three in Malaysia. Four other stores are planned for this year, including the first in Thailand, and another five or six in 2016. The company also plans to enter Vietnam, Indonesia and Brunei with a goal of 35 stores across Southeast Asia by the end of 2018.

Mitsui and Triple partnership is expected to leverage the expansion of the retailer’s ecommerce base across Asian markets, from a Singapore hub. Mitsui’s investment will also assist Triple to develop partnerships with other brands, capitalising on its existing relationships.

Triple’s CEO, Michael Binger stated: “Triple sees Mitsui as a strong long-term strategic partner with good complementary strengths. Mitsui has a network of relations with brands that are not yet represented in Southeast Asia, and with the wide business interests of Mitsui and Triple’s rapid growth, there will be other areas of cooperation, including logistics.”