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Temasek fund invests undisclosed sum in homegrown store-fixtures firm
TEMASEK Holdings' Heliconia Capital Management has taken a "substantial minority equity position" in a Singapore store-fixtures company.
Futuristic Store Fixtures Pte Ltd on Monday said it has secured an undisclosed investment sum from Heliconia.
The money will be used to expand and upgrade the company's manufacturing facilities in Selangor, Malaysia and in Kunshan, China. Futuristic will also set aside a portion of the funds for strategic partnerships or acquisitions in the related space to expand its regional reach, it added.
The company now works with about 40 global brands that include Victoria's Secret. More than 60 per cent of its revenue is from North America and it is expanding into China and Asia, said Futuristic's chief executive officer David Low in a press statement.
Derek Lau, chief executive officer of Heliconia, said that Futuristic is seen as a potential proxy to consumer retail, rather than a traditional fixtures company.