It’s been a rather eventful year for Marc Jacobs. Earlier this year, the American luxury fashion company consolidated its main line and diffusion line into a single label. This is part of the company’s growth strategy as its revenues approach US$1 billion (S$1.35 billion) and it considers a possible IPO.
Recently, the brand also made waves on our shores. Local fashion retailer and distributor FJ Benjamin announced the opening of a new Marc
Jacobs store at Paragon, along with the news that it had won the exclusive rights to distribute the brand in Singapore, Malaysia and Indonesia. Previously, the two Marc Jacobs lines were distributed by Club 21.
This is positive news for FJ Benjamin – the group’s share price rose, following the announcement – and comes at an important time. The group recently reported a 14 per cent drop in revenue from the previous year – a result of “sluggish consumer demand, restructuring costs and currency depreciation”. Over the next two years, FJ Benjamin will open four Marc Jacobs stores. They will carry a full collection of the brand’s women’s collection, including ready-to-wear, bags and accessories. #01-03A Paragon.