Local fashion chain Cotton On speaks out about its hunt for a partner to grow its empire further.
The group, which just last week opened a head office in Singapore, has confirmed it is looking to expand its reach to mainland China through a strategic tie-up.
Speaking exclusively to ragtrader.com.au, Cotton On Group senior communications manager Greer McCracken revealed that the partner is likely to be a local company who can assist the brand in navigating the region with success.
“The Cotton On Group is looking to expand its reach into mainland China. We’re looking for a partner with a sound knowledge and understanding of this retail market to help us navigate the cultural, language and regulatory nuances that exist in the region.”
Asked if the group was already in talks wit a specific company, McCracken said simply that it has been “active” in its hunt for a partner to expand its retail footprint in China.
Cotton On currently operates 1300 stores worldwide, with more than 160 of them in Asia.
The move to mainland China would see Cotton On Group challenge global giants such as Uniqlo, Zara, and H&M on the local retail landscape.
However, in his speech at the launch of the brand's Singapore head office on February 27, Cotton On Group CFO Michael Hardwick said the company is confident of its investment in the region.
“We have more than 160 stores throughout Singapore, Malaysia, Hong Kong, Thailand, Indonesia and the Philippines, and plan to open several hundred more stores in the region in the next five years at a projected investment in excess of $100 million.”