On Tuesday, November 15, Primo Global Holdings Co., Ltd. will open its first store in Singapore, the I-PRIMO ION Orchard Store, at ION Orchard, a luxury large-scale shopping mall located in the Orchard Road area of Singapore.

◆ Singapore's central commercial area and landmark: ION Orchard

Singapore is an island city-state located to the south of Malaysia, with a population of approximately 5.7 million*. While considering locations for developing overseas, and with an emphasis on the fact that Singapore is fertile ground for the ready acceptance of marriage customs and Japanese bridal rings, we have decided to expand into Singapore because it has a firmly rooted culture of proper wedding celebrations, a high degree of affinity for Japan, and is a gateway to the Southeast Asian market.

I-PRIMO's strengths, such as meticulous personal support that meets the needs of each customer and our select-order style of delivering one-of-a-kind bridal jewelry, have a track record of being well received by customers in mainland China, Taiwan, and Hong Kong, and we have now realized our plan to open a store in ION Orchard, which is seen as one of Singapore’s landmarks. ION Orchard is a luxury large-scale shopping mall that opened in 2009 and contains about 400 stores, with a focus on international brands. Many other jewelry brands also have stores there, so we can expect a positive effect from customers shopping around for bridal jewelry. ION Orchard is adjacent to Orchard MRT Station, so access is also very good and this is expected to promote even greater awareness of the I-PRIMO brand.

 

*Ministry of Foreign Affairs (Singapore) basic data survey, 2020

 

◆ Continued store openings for further business expansion in overseas markets

Since developing our first overseas store in Taiwan in October 2007, we have expanded our store locations to Hong Kong in 2012 and mainland China in 2016. As of the end of the fiscal period to August 2022, our overseas sales ratio has exceeded 40%, and we aim to make further progress by continuing to open stores overseas. In anticipation of future expansion into Southeast Asia, as a starting point we are now opening a store in Singapore, which is a gateway to Southeast Asia.

Through fine service and hospitality and the I-PRIMO brand’s high Japanese standards of product quality, going forward, we intend to provide overseas customers with a wide range of purchases that will become the memory of a lifetime.