Macys is planning to add more stores to the mainland in a move that will open up a new source of revenue for the Hawaiian island’s luxury jewellers.
The luxury chain, which is based in Hawaii’s capital Honolulu, will open its first retail store in Singapore, according to the company’s new Chief Executive Officer, Richard Mackey.
Mackey will head up the Singapore retail expansion at the end of next year, which will include the opening of a branch of the company in the capital, Singapore, and a further two stores in Singapore.
“We are committed to expanding to the islands of Maui and the South Pacific to continue to provide a service that our customers expect and deserve,” Mackey said in a statement.
Auckland, New Zealand, is also planning to open its second Macys store in New Zealand’s largest city, Auckland, and to open another store in the city of Auckland in the next three years.
The Auckland store is expected to open in the middle of next month, with a fourth store to follow.
New Zealand’s economy has been hit by a series of downturns in recent years, and there are growing concerns about the future of the island’s manufacturing sector.
This expansion will also see Macys expand into more stores in other areas of the world, including the US and Mexico.
However, Mackey’s statement did not say when the new Singapore store would open.
Mackeys stores already operate in Europe and Asia, but the chain’s new Singapore location is its first on the mainland.
In addition to the Singapore location, Macys also has an expansion planned for its Hawaiian store in Maui.