Australian retail company Cotton On Group is eyeing expansion in Singapore amid optimism over sales growth this year.
Since its foray into Singapore in 2007, the retailer has built up its operations aggressively, and it now runs 74 stores across six brands – Cotton On, Cotton On Kids, Cotton On Body, Typo, Rubi Shoes and Factorie – in various malls.
“When we look at 2016, we are well positioned to deliver 20 per cent growth in Singapore in sales, and that is our goal in the next few years – going after that 20 per cent mark,” its Asia country manager, Mr Abdoulaye Diaw, told The Straits Times in an interview recently.
Globally, the company plans to garner total sales of A$1.8 billion (S$1.8 billion) this year from its more than 1,300 stores in 17 countries. Mr Diaw said Cotton On Group is looking at bumping up the number of stores to 2,000 in the next three years.
In Singapore, its expansion strategy is focused on ramping up its presence within malls where it already has outlets. For example, it moved the Cotton On outlet to a larger 600 sq m store in City Square Mall in March, and opened a new concept Rubi store at its old location.
The larger store allowed the company to expand its women’s and men’s offerings, and introduce the Cotton On Body brand to City Square Mall. It also plans to open Cotton On Kids there at the end of July.
(Source: Strait Times )