Footwear, bag and accessories label Charles & Keith is readying for expansion with the purchase of an industrial building next to its Tai Seng Link HQ.

The S$60 million (US$43.9 million) 268,000sqft structure was purchased from Marvell Asia under brokerage by CBRE. The site has a balance lease term of about 48 years.

“In addition to the current group headquarters at 6 Tai Seng Link, the acquired property will make space for our growing workforce,” said a spokeswoman for Charles & Keith. “It will create opportunities for us to strengthen our e-commerce and supply chain capabilities.”

Charles & Keith operates more than 600 stores under its own name and its spinoff brand Pedro in 37 markets, and also delivers to 55 destinations worldwide from its e-commerce business.