F J Benjamin and Valentino agree joint venture for Asian distribution

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Asian travel retailer F J Benjamin Holdings (FJB) has announced that it has entered into a joint venture with fashion label Valentino for the retail and distribution of three Valentino brands in Singapore, Malaysia and Indonesia.

The joint venture company between FJB and Lux Valentino (Valentino) will be 70% owned by FJB, while Valentino will hold the remaining 30%. Under the terms of the agreement, Valentino has the option within the first two years to increase its stake to 49% by buying the requisite number of shares.

The venture is valid for a five-year period, with an automatic renewal for a further five years on the achievement of certain agreed objectives. The newly-formed company opened its first Valentino boutique in Singapore at the Hilton Shopping Gallery on Orchard Road earlier this month. The 900sq ft (84sq m)  outlet retails fashion and accessories under three brands: Valentino, Valentino Roma and Valentino Garavani.