SINGAPORE - After just two years in the Singapore market, Japanese lifestyle store Francfranc is closing both its outlets here.
In a statement to the media, Francfranc Singapore said that it is with much regret that its management at Bals Singapore Pte Ltd has decided to cease all operations for its wholly-owned subsidiary here.
Bals Singapore Pte Ltd will accordingly be withdrawing from the retail business this year.
The 9,300 sq ft store in JCube in Jurong East will close first on April 20, while the 20,000 sq ft flagship VivoCity store in Harbourfront will shut its doors on June 1.
"We would also like to take this opportunity to thank all of you for your generous support the past two years and sincerely apologise for the inconvenience caused," said Director of Bals Singapore Kazuyoshi Tanaka.
The news is a shock move for the Japanese brand, which had optimistic plans to expand in Singapore when it first started. Known for its chic stylish home furnishings, fabrics, lighting and appliances, the Francfranc stores here were the 22-year-old brand's first foray into the South-east Asian market.
Back in 2012, Francfranc's founder and chief executive officer Fumio Takashima told Life! that he was looking to open seven or eight more stores in the next two years.