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Magazines Archives - 2008 May
FJ Benjamin renews franchise for Guess
Story 7
SINGAPORES FJ Benjamin has renewed its exclusive agreement with US fashion label Guess by another five years.
The new agreement, effective on April 1, will extend the franchise and distribution agreement between the two companies until 31 December 2014, with an option to extend it further to 2019 on
substantially similar terms.
The renewal of the agreements gives FJ Benjamin continuing, exclusive rights to retail and distribute the Guess brand apparel and accessories in Singapore, Malaysia, Indonesia and
Brunei, stated FJ Benjamin.
Said its CEO, Nash Benjamin: Guess is one of the major brands in our fashion portfolio, and contributes significantly to the groups turnover and profitability.
The latest agreement is a recognition by our principal of our ability to continually grow the business in the region.
We have a 17-year relationship with Guess, and we look forward to building on our close partnership for many years to come. He sees the brand continuing to command strong consumer demand in the region, and leadership position across various product segments, including
timepieces.
FJ Benjamin plans to renovate its Guess stores in the region, with the outlets in Singapores
Ngee Ann City and Paragon Shopping Centre undergoing a complete renovation by November this year.
The company also plans to open new stores in the city-state following the expansion of its retail network in Malaysia and Indonesia over the past 12 months.
It currently operates 70 stand-alone Guess boutiques in the region, 13 of which are in Singapore, and 58 shopin-shop Guess concept stores. The agreement inked includes distribution
rights for the labels handbags, footwear and timepieces in South-east and North Asia.
FJ Benjamin, which started marketing the Guess brand in 1991, retails and distributes a wide range of its products, including Guess? Jeans, Guess Baby/ Kids, Guess by Marciano, Guess Gc
watches and a range of handbags, footwear and jewellery.
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