KUALA LUMPUR: Malaysia’s Padini Group, leader in the multibillion textile and garment industry, and Singapore’s F J Benjamin Group, a leading fashion retail and lifestyle company, have signed an exclusive 10-year deal for the latter to distribute the Vincci (VNC) brand of women shoes and accessories in Indonesia.
VNC products are sold under the Vincci label in Malaysia and are produced by the Padini Group.
The Master Franchise Agreement was inked in Kuala Lumpur today by Yong Pang Chaun, managing director of Padini Holdings Bhd, Nash Benjamin, CEO of F J Benjamin Group and Ronnie Bong, CEO of Indonesia’s PT Gilang Agung Persada.
Under the deal, F J Benjamin would, through its associate PT Gilang Agung Persada, open 25 stores within five years all over Indonesia, a statement from Padini said here today.
“We are excited to start this partnership with the F J Benjamin Group in Indonesia, a market they know well having established a presence there for over 30 years.
“During this period, they have done an incredible job building up foreign brands in Indonesia,” said Yong.
“We believe they can do the same for the VNC brand in Indonesia, which is today one of the fastest-growing economies in Asean,” he added.
Indonesia’s 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, Padini said.