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Shoebox opens first international store in Vietnam

06
Dec '08
NexCen Brands Inc announced the opening of the first international Shoebox New York store in Hanoi, Vietnam. The store held its grand opening on November 28th with a traditional ribbon cutting ceremony. In the first three days following the opening, Shoebox New York sold through approximately one-third of its inventory.

This is the first store to open under a master franchise agreement with Le Gia Company Ltd. for a minimum of two Shoebox New York stores in Vietnam. As previously announced, the Company has also signed an agreement with Magneato International, Inc. to open at least 20 Shoebox New York franchised stores in Korea.

“We believe the Shoebox New York brand has significant growth potential both domestically and overseas,” stated Kenneth J. Hall, Chief Executive Officer of NexCen Brands, Inc.

“Following this successful opening of our first Shoebox New York store in Vietnam, we look forward to further expanding this franchised brand in Asia and beyond. As demonstrated by our recent signing of an agreement to open Great American Cookies franchised stores in Canada and now the opening of a Shoebox New York franchised store in Vietnam, we continue to execute on our strategy to expand the international reach of our franchise brands.”

Chris Dull, President of NexCen Franchise Management, the franchising subsidiary of NexCen Brands, stated, “We are delighted to have experienced such a successful grand opening for our first international Shoebox New York store in Vietnam. We received a very positive initial consumer response to our retail concept for multi-brand luxury footwear and accessories in Hanoi and look forward to continuing to deliver quality merchandise to our customers in this important market.”

The Shoebox New York concept had its genesis from Shoebox, one of New York's premier women's multi-brand retailers for luxury footwear, handbags and accessories. Established in 1954 and known for its vast product assortment and trend-setting styles from top European and American designers, Shoebox garnered a dedicated following of sophisticated women.

NexCen Brands Inc


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