FJ Benjamin announced, on Sept 28, that it has signed an omnichannel solutions agreement with Lazada Singapore.
The agreement follows the signing of a memorandum of understanding (MOU) between both parties in March.
The move is said to help the retailer integrate its online and offline presence.
Under the agreement, Lazada will operate FJ Benjamin’s LazMall stores and selected online retail stores. Lazada will also provide services such as management consultation, brand use, software services, operations assistance and technical support to the brands under FJ Benjamin.
See: Lazada and Enterprise Singapore to offer subsidies for SMEs to go digital
So far, Lazada has been managing the LazMall stores for FJ Benjamin brands such as Pretty Ballerinas, La Senza and Superdry since August.
They will be operating the online retail stores for Pretty Ballerinas and Superdry in October.
Additional brands under the FJ Benjamin portfolio will continue to be added in 2022.
In turn, FJ Benjamin will invest in advertising to boost sales. The advertisements will appear within and outside the Lazada platform.
The brand will also continue to oversee all aspects of product assortment, brand management, pricing, promotions, as well as logistics such as inventory and supply chain.
“Since the pandemic lockdown last year, FJ Benjamin has been accelerating our e-commerce business and will step up the momentum now that we have finalised all commercial terms with Lazada,” says FJ Benjamin group CEO Nash Benjamin.
“We have had several rounds of testing to ensure the system is stable before we sealed our partnership with Lazada and are confident of being able to mutually realise market competitiveness in both the online and offline space,” he adds.
“Our goal of supporting businesses in their online transformation remains one of our key focuses, and we’re proud to be FJ Benjamin’s eCommerce partner of choice, not just for managing their LazMall brand stores, but also relying on our expertise in managing the online retail channels for their fashion brands. We do not take this trust placed in us lightly,” says Lazada Singapore’s CEO James Chang.
“Ecommerce is invariably part of the retail mix in the present and future. Our capabilities are not only to help businesses succeed on our platform, but also help them succeed in their digitalisation and we’re happy to curate our expertise to suit the business needs of one of Singapore’s best known fashion houses,” Chang adds.
Shares in FJ Benjamin closed 0.3 cent higher or 11.54% up at 2.9 cents on Sept 27.
