Singapore’s F J Benjamin Group and Malaysia’s Padini Group have signed an exclusive 10-year deal for the latter to distribute VNC women’s shoes and accessories in Indonesia.
Under the agreement, F J Benjamin will, through its associate PT Gilang Agung Persada, open 25 stores within five years all over Indonesia.
Vincci shoes is one of Malaysia’s most successful footwear labels. The brand was launched by the Padini Group back in 1981 and comprises a range of ladies shoes, handbags, jewellery, belts and hair accessories. All the products are manufactured in Asia and sold through a network of more than 100 stores in Malaysia and overseas.
The F J Benjamin Group has 30 years experience in Indonesia.
“During this period, they have done an incredible job building up foreign brands there. We believe they can do the same for the VNC brand in Indonesia, which is today one of the fastest-growing economies in Asean,” said Yong Pang Chaun, MD of Padini Holdings Berhad.
A recent global consumer confidence survey by Nielsen showed Indonesia in top spot, with consumer optimism fuelled by investment rating upgrades from Moody’s and Fitch. The country with population of 240 million and an expanding middle class is considered the next big consumer bastion in Asia after China and India.
Nash Benjamin, CEO of F J Benjamin Group, commented: “We see great potential for the VNC brand with the increase in the buying power of Asian consumers and the growing sophistication of Asian manufacturers in branding and packaging. We are confident that VNC fashion products will find favour with increasingly affluent Indonesians as they have with Malaysians.”
Indonesian customers will enjoy the same extensive range of Vincci products as their counterparts in Malaysia when they buy the VNC shoes, bags, jewellery and hair accessories and at the same time too, because of simultaneous launches of all new products in both countries.
Vincci is one of the most established brands in the Padini group, which also manages and owns other labels including Padini, Seed, Padini Authentics, PDI, P&Co and Miki. Padini, which has its roots in the manufacturing, trading and distribution of garments, has 320 stores in southeast Asia, the Middle East and North Africa.
FJ Benjamin is Singapore’s leading fashion retail and lifestyle company with a 53-year track record in managing global and regional brands. Listed on the Singapore Exchange, F J Benjamin opened its first single brand store in Singapore for Lavin in 1975 and has been leading trends in fashion retailing in Southeast Asia.
Today, the group has a network of more than 190 stores representing over 20 fashion and watch brands including Banana Republic, Celine, Gap, Givenchy, Goyard, Guess, La Senza, Sheridan, Rado, Marc Ecko and Nautica. The group also owns Catherine Deane, a UK brand of women apparel popular with Hollywood celebrities.
The F J Benjamin Group operates in 11 markets including Singapore, Malaysia, Indonesia, Taiwan, China, Hong Kong, the UK, Italy and the US.
In Indonesia, its associate, PT Gilang Agung Persada, has more than 90 stores in Jakarta, Surabaya, Semarang, Medan, Bali and other cities across the country, retailing brands such as Banana Republic, Gap, Guess, La Senza, Celine and Givenchy.
In Malaysia, its fashion retail fashion network comprises of 69 stores in key cities in Malaysia, including Kuala Lumpur, Penang, Ipoh, Johor Bahru and Kuching.
