NATIONAL: Witchery Holdings Group is moving to establish a “substantial presence” within the Singaporean retail market, with two store openings scheduled for March 2010.
The Melbourne headquartered retail group will open two boutiques in the high end ION shopping centre under the Mimco and Witchery Accessories brands. Witchery Holdings CEO Iain Nairn said the company expected both brands will build a “strong following” in the luxury shopping complex.
“The venture will test the market appetite for our brands in both Singapore and Asia as a whole,” Nairn said.
Witchery Holdings confirmed both brands will seek to build a substantial presence within the Singaporean market, though no other store openings are planned at this stage.
It is the latest in a number of off shore ventures undertaken by both brands since being acquired by Australian investment house Gresham Private Equity. Witchery has opened 18 stores in New Zealand since its acquisition by Gresham in August 2006, while Mimco, acquired in August 2007, currently operates a range of stand alone boutiques and concession stores in the UK.
The ION centre is currently home to fashion brands including Mango, Levis, Topshop and Zara, as well as a number of international luxury labels including Giorgio Armani and Louis Vuitton. Australian retail brand Cotton On is scheduled to open in the centre in the coming months.