Cotton On to open first store in New York City
The outlet store will feature the brand’s women’s wear, menswear and accessories, and is expected to open in early 2019.
However, according to the AFR, Cotton On’s international business reported a loss of approximately $11.9 million for 2017-18, as opposed to its Australian business which saw a 20.4 per cent increase to $2.59 billion.
These figures potentially signal a healthy Australian business finding a difficult environment outside its local borders; with Cotton On’s international business comprised of its operations across regions such as South America, China, South Africa, the UK and the US.
Empire Outlets is set to be the New York’s first outlet complex, and will be comprised of 100 designer outlet retailers as well as a variety of restaurants and cafes.
“In our continued effort to secure retailers that don’t have a presence in the [Staten Island and New York] market this time we went as far as Australian to bring you Cotton On, the finest in fast-fashion outlet shopping,” Casandra Properties chief executive James Prendamano said.
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