TT International signs 15-year Master Franchise Agreement with Habitat

Latter to debut in Big Box warehouse.

Habitat, a French manufacturer and specialist in designer homeware and interior decoration since 1964, has signed a 15-year Master Franchise Agreement for the Asia Pacific with TT International Ltd, which is developing Singapore’s largest mega retail warehouse project, BIG BOX.

Habitat signed the Agreement with Furniture & Furnishings Pte. Ltd. (F&F), a subsidiary of Singapore Exchange Mainboard-listed TT International, Habitat and F&F announced in a joint statement.

The Agreement was signed during the first MAISON&OBJET Asia trade fair in Singapore between Mr. Vincent Destailleur, Chief Executive Director of Habitat, and Ms. Julia Tong, Executive Director of F&F and of TT International.

The latter carries and sells furniture products under brands (ie Barang Barang, Castilla, Natural Living and Novena), as well as its own AKIRA brand and other world renowned international brands of consumer electronic products. TT International is also the controlling shareholder of BIG BOX, Singapore’s largest warehouse retail project located in Jurong East which will have 400,000 square feet of retail space when it opens by the end of this year.

Leveraging on its unique positioning and deep experience in retail and supply chain management experience, TT International has a strong understanding of consumer trends and preferences in Asia as well as access to potential retail locations in the region.

The Agreement signed covers 15 countries across Asia Pacific, namely Singapore, Indonesia, Taiwan, Brunei, Cambodia, Malaysia, Myanmar, Philippines, Vietnam, Laos, Timor Leste, Australia, New Zealand, Fiji and Papua New Guinea.

Under the Agreement, F&F will open four stores in Singapore, Indonesia, Taiwan and Brunei between now and the end of 2015; double the number of stores over the subsequent two years; gradually extend the scope of the Master Franchisee stores across the Asia-Pacific region with its launch in the remaining countries.

The first Habitat store in the region is scheduled to open by the end of 2014 in BIG BOX – the last and largest of four warehouse retail projects approved by Singapore’s Economic Development Board under the Warehouse Retail Scheme.

After the major reinforcement of its network of franchise stores in Europe (including the first agreements signed in France) and the signing of a Master Franchise covering the Gulf States, this latest Agreement is further proof of Habitat’s strong ambitions for its international development. After MAISON&OBJET Asia, Habitat also will participate in International Furniture Fair Singapore 2014 from 13th to 16th of March.

Ms Julia Tong said: “Following the acquisition by the Cafom Group, Habitat is a force to be reckoned with in designer homeware and interior decoration, having entered a new and dynamic phase in its development. With our entrenched market spread, we are confident that Habitat products will fit in perfectly with our business activities in the region and has excellent growth potential in Asia Pacific thanks to the magical French touch behind its goods and products.”

Mr Hervé Giaoui, Chairman and CEO of Habitat, said: “Habitat has once again demonstrated its extremely high appeal and development potential. Our Group will benefit enormously from the very robust growth dynamic currently shaping Asia and the powerful backing of our partner which already has a strong presence in terms of large scale retail and homeware and interior decoration stores.”