SINGAPORE – Australian fashion and lifestyle retailer Cotton On has closed its store at Velocity @ Novena Square, and is shutting its outlet at NEX at Serangoon Central.
A Cotton On spokesperson told The Straits Times on July 2 that the leases for both locations had expired, and the company is “exploring new opportunities to continue delivering the best retail experience for customers”.
The spokesperson did not respond to queries on whether any jobs would be affected, or if there are plans to relocate the stores.
The closures will leave the company with 27 stores in Singapore under its Cotton On, Cotton On Body, and Cotton On Kids brands, according to its website.
Cotton On did not respond to ST’s queries on whether the store closures have affected Cotton On’s headcount in Singapore and whether it plans to open more outlets in Singapore.
The outlet at Velocity was shuttered when The Straits Times visited on July 1. An employee at the mall’s information counter, who declined to be named, said it had been closed for about a week.
At the NEX outlet, some shelves had already been emptied and the mannequins were undressed. Cotton On did not confirm when the stores would close.
Some shelves were already emptied and mannequins undressed when ST visited Serangoon NEX’s Cotton On outlet on July 1.
ST PHOTO: ROSALIND ANG
Jasmine Lim, a student who was shopping for clothes at the outlet with her friends, said: “I wasn’t aware that the Serangoon NEX Cotton On was closing, so it came as quite a surprise.”
“It doesn’t really affect me though. I usually shop for clothes and accessories online anyway. I just browse here sometimes after school ends,” the 17-year-old added.
The store closures come months after Cotton On clarified that it was not exiting Singapore or the wider Asia market, following reports that one of its holding entities was being wound up.
On March 30, a notice published in the Government Gazette showed that Cotton On Asia had been placed under members’ voluntary liquidation, prompting speculation that the retailer was shutting its Singapore operations.
The company responded the following day, saying the entity was an inactive holding company.
The restructuring has no impact on the group’s operations, employees, customers or suppliers in Asia, the company had said.
ST PHOTO: ROSALIND ANG
Cotton On Singapore, which was previously the sole subsidiary of Cotton On Asia, has since been placed directly under the group’s principal operating company, Cotton On International Pty Ltd, removing the need for the intermediary holding company.
The restructuring has no impact on the group’s operations, employees, customers or suppliers in Asia, the company had said.
Founded in Geelong, Australia, in 1991, Cotton On opened its first Singapore store at Wisma Atria in 2007 and established its Asia headquarters here in 2014.
Brands under the Cotton On umbrella available in Singapore are Cotton On, Cotton On Body, Cotton On Kids, stationery brand Typo and shoe brand Rubi. Other brands in the group include Factorie, Supre and Ceres Life.
Source : https://www.straitstimes.com/business/cotton-on-shuts-two-singapore-stores-as-leases-expire
