Subdued accelerates development plan across Hong Kong, Beijing, Tokyo and US

Osit Impresa SpA, the parent company of Subdued, is consolidating its internationalisation strategy by focusing on expansion across the Asia-Pacific (APAC) region and the US. The business plan includes a combination of direct retail openings, partnership agreements and enhanced digital channels to support the profitability of its non-European operations.

“Our ambition is not simply to bring Subdued to new countries, but to build an international model capable of growing while keeping the brand’s identity intact. Success in Asia confirms the potential of this approach: we have managed to enter very different markets, quickly understand their dynamics and lay the foundations for progressive and lasting growth. The transition we are facing now is equally important: transforming our expansion capacity into a scalable regional platform, with increasing financial discipline. This is the direction that will guide our development in the coming years and allow us to take Subdued from an Italian business with an international outlook to a truly global brand,” emphasised Enrico Maria Sconciaforni, president of Osit Impresa SpA, in a statement.

In the APAC region, the distribution model is divided between a direct presence in China, Hong Kong and South Korea, and local partnerships in Thailand, Singapore, Indonesia and Malaysia. Following openings in Shanghai (2024), Guangzhou and Hong Kong (2025), the Asian network saw the launch of a pop-up store in Shenzhen in 2026 and the conversion of its Seoul space into a permanent store.

Company estimates 2026 revenues of around 30 million euros in APAC region

The roadmap to 2027 schedules five additional stores in the region: two in Hong Kong, one in Beijing, a second location in South Korea and a debut in Tokyo. In South-East Asia, following recent openings in Bangkok and a second store in Singapore, the brand plans to enter Indonesia with a location in Bali, followed by developments in Jakarta and Kuala Lumpur by 2027. Financially, the company estimates 2026 revenues of around 30 million euros in the APAC region, with a positive EBITDA.

Concurrently, the US market stands as a priority pillar for global expansion. The brand's American footprint currently includes New York stores in Roosevelt Field and on Broadway, alongside a location on Fifth Avenue in the Flatiron District. The pipeline includes two locations in Miami (Aventura Mall and Lincoln Road) by the end of 2026, followed by two stores in California in 2027, supported by investments in e-commerce infrastructure. Projected turnover in the US for 2026 is approximately 15 million euros.

The company closed 2025 with total revenues of 196.5 million euros and over 140 active stores. Meanwhile, it continues to maintain its commercial positions in Europe and the Middle East. In 2024, Subdued signed a strategic partnership with investment holding company Nuo, which acquired a 30 percent stake in its share capital, with the aim of accelerating a global retail expansion plan.