Singapore’s fashion powerhouse FJ Benjamin has just signed a deal with Malaysia’s Padini Group to exclusively distribute the group’s well-established shoe and accessory line VCN – which are sold under the name Vincci in Malaysia – in Indonesia.
Announced at a press conference in Kuala Lumpur, Malaysia, on August 7, 2012, the tie-up sees the owner of Singapore’s Raoul fashion label planning to open 25 stores within five years in Indonesia.
Vincci shoes, bags and Vincci Accessories, costume jewellery, are produced in Malaysia by the Padini Group and are known for their “hot-off-the-runway” style and super affordable price point – there are 20 new styles of shoes alone available every month in the 100 plus stores stocking them in Malaysia and around the world.
“VNC products are synonymous with style at affordable prices. We see great potential for the brand with the increase in the buying power of Asian consumers and the growing sophistication of Asian manufacturers in branding and packaging,” says Mr Nash Benjamin, CEO of FJ Benjamin Group, who was in Kuala Lumpur to sign the agreement with Mr Yong Pang Chaun, managing director of Padini Holdings Berhad.
The Indonesian outlets will be run via FJ Benjamin’s country associate PT Gilang Agung Persada which already has more than 90 stores retailing brands like Banana Republic, Gap, Guess, La Senza, Celine and Givenchy.
The exclusive 10 year deal between FJ Benjamin and Padini Group is another sign that Asia is coming into its own when it comes to producing and expanding into the global fashion market.
Vincci was launched in 1981 and has been growing steadily in popularity; its stores are regularly packed to the rafters with Malaysian fashionistas and tourist after a great “fast fashion” buy – on an ordinary Monday afternoon the brand’s KLCC outlet was a hive of activity, as packed as H&M on the launch day of a major collaboration.
Will FJ Benjamin, or the Padini Group, be bringing Vincci to Singapore? At this stage it has yet to be confirmed but since Malaysia is just an hour away you can always pop over the border for a quick shop – and the currently great exchange rate between the two countries makes it an even better deal.
For more on Vincci style, check out our story on Vincci’s Autumn Winter 2012 collection. For more information about Vincci, go to www.padini.com/vincci. For more information about FJ Benjamin, go to www.fjbenjamin.com and to shop the company’s internation fashion brand Raoul, go to www.raoul.com.