Fred Segal has a new equity investor for its Japanese business.
Effective immediately, all business operations for Fred Segal in Japan will be managed by MFSJ Co. Ltd. (Moroto Fred Segal Japan). The Fred Segal license and all equity have been transferred to Moroto Investment Co. Ltd. & Serendip Consulting, part of the Moroto Group, from Mark Styler Co. Ltd.
The Moroto Group, which specializes in forestry, supplies products that are found in Japan’s landmarks, such as its famous temples and the wooden plank stage for the Kabuki Theater. Shigeru Masuda, chief executive officer of MFSJ Co., Ltd., will remain ceo of the new venture.
Paul Blum, ceo of Fred Segal, said the deal will help the retailer further expand its brand in Japan. Ari Takeuchi, ceo of Serendip Consulting Co. Ltd. added, “In Japan, demand is increasing for a complete ‘customer experience’ covering not only fashion, but also food and beauty, and we look forward to sharing Fred Segal’s iconic California sensibility with Japanese consumers.”
This spring Fred Segal will open its first international flagship location in Tokyo’s Daikanyama neighborhood, followed by a second lifestyle center in Yokohama in 2016.