Cotton On forges ahead in China
The homegrown retailer is currently seeking a partner to help grow its brand in the world’s second largest economy.
“We’ve obviously followed a few of the largest fast fashion retailers up there, which are Uniqlo, Zara, and H&M,” Michael Hardwick, Cotton On Group CFO, said.
“At some stage over the coming years, we’d like to start to replicate that up in the China market as well,” Hardwick says.
The announcement comes following the opening of the group’s Asian headquarters in Singapore last week.
Cotton On currently operates 1300 stores worldwide, 160 of them in Asia. The company expects Asia to account 20 per cent of its total sales this year from 15 per cent a year ago.
Founded in 1991, the Cotton On Group also operates Cotton On Body, Cotton On Kids, Rubi Shoes, Typo, T-bar, and Factorie.
It acquired fellow Australia fast fashion chain Supre in October last year.
Inside Retail Polls
Aussie retailers need to diversify their revenue streams, or risk becoming one of the many brands announcing store… https://t.co/DCKX3A1MXT3 days ago
The Iconic is offering customers pre-paid postage labels to send old clothes in good condition to charity, rather t… https://t.co/49zjMkOGOH3 days ago