MELBOURNE: High Street retailer Witchery could unleash its entire product offering across the Asian market, following the launch of its first accessory store in Singapore next month.
As first reported on www.ragtrader.com.au, parent company Witchery Holdings Group successfully tendered for two boutique spaces at high-end shopping centre ION late last year.
The company is now on track to debut its Mimco and Witchery Accessories brands there in March, with executives keen to test the local market for further retail and product expansion opportunities.
Witchery Holdings chief executive Ian Nairn said Singapore was a logical choice for Witchery’s first major international venture.
“Northern hemisphere destinations are still a possibility, however given Singapore’s closeness to Australia and the cross-corporate population that migrate back and forth between the two countries, Singapore appeared to be a more logical choice,” Nairn said.
“Language is [also] not a barrier; we are fortunate that the majority of Singaporeans speak English.”
The decision to launch an accessories venture first was to gauge the local response to Witchery’s clean and simple style, Nairn said.
Apparel collections could also prove difficult for the retailer when it considers broader international plans in the future.
“Apparel is still a possibility, however it is long term as we will need to redefine our range given the hemisphere and climate differentiation.”
In the meantime, Nairn confirmed store layout, product and pricing would be on par with what was currently available in Australia.
Zara, Topshop, Gap, Banana Republic and Nine West are Witchery’s key competitors in the Asian market.
Other challenges include cultural differences and understanding the “insights and key attributes” of product that local Singaporeans valued.
“Singapore is a microcosm of global retailing and therefore a great environment to test Witchery Accessories,” Nairn said.
Upmarket brand Mimco, which was acquired by Witchery Holdings in August 2007, has already ventured offshore with six stand-alone boutiques and 17 department store concessions in the UK.
The brand first entered the market in September 2008. Witchery currently operates 150 stores throughout Australia and 18 stores in New Zealand.
Assia Benmedjdoub