Cotton On says not closing stores or exiting Asia, liquidated entity was inactive holding company
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Among its growth plans for Asia, the company is looking at opening four Cotton On Mega stores across Singapore and Malaysia in the next 12 months.
ST PHOTO: MARK CHEONG
- Cotton On refutes misleading reports, confirming they are not closing stores or exiting the Asia region.
- Cotton On Asia Pte Ltd, an inactive holding company, is undergoing voluntary liquidation with no impact on operations.
- Cotton On plans expansion in Asia, including new Typo and Cotton On Mega stores in Malaysia and Singapore.
AI generated
SINGAPORE - Australian fashion and lifestyle retailer Cotton On said it has no plans to exit the Asia market, after confusion surrounding media reports on the liquidation of one of its entities.
A Cotton On spokesperson said on March 31: “There have been misleading media reports suggesting that Cotton On stores operating in Asia are being closed; this information is incorrect and we have no plans to exit the Asia region.”
The statement on March 31 added that Cotton On Asia Pte Ltd, the liquidated entity, does not and has never operated any stores or employed team members. It was an inactive holding company that is no longer required.
“This has no impact on customers, teams, stores, suppliers or operations within the Asia region,” the spokesperson said.
A notice published in the Government Gazette on March 30 stated that Cotton On Asia was to undergo voluntary liquidation, and that liquidators from PwC Singapore were appointed to wind up the business.
Checks on the Accounting and Corporate Regulatory Authority website on March 30 showed that a second entity, Cotton On Singapore Pte Ltd, is still operating as a retail business providing clothing for adults.
In a call with The Straits Times on March 31, Cotton On Group’s chief financial officer Michael Hardwick said that Cotton On Asia was put in place as a common structure, which had Cotton On Singapore as its only entity.
Now that Cotton On Singapore is under the group’s principal operating company, Cotton On International Pty Ltd, there is no longer a need for Cotton On Asia as an intermediary company, explained Mr Hardwick.
He said: “Asia continues to be an important region for the Cotton On business and a vital part of our long-term growth strategy.”
The group has 192 stores in Asia across four brands – Cotton On, Cotton On Body, Cotton On Kids and Typo – with 33 of them in Singapore. Total sales for its Asia business hit A$232 million (S$205 million) in its 2025 financial year.
The spokesperson told ST that the company plans to open four Cotton On Mega stores across Singapore and Malaysia in the next 12 months, and will soon start on a major refurbishment of its outlet at Mid Valley Megamall in Kuala Lumpur. It is also opening a new concept Typo store in Malaysia on April 2 and four more new Typo locations in Asia by mid-August.
Cotton On Group was founded in Geelong, Australia, in 1991 by Mr Nigel Austin. It opened its first store in Singapore at Wisma Atria in 2007, and its Asia headquarters here in 2014 with more than 90 staff.
In Singapore, it operates the Cotton On, Cotton On Body and Cotton On Kids brands, as well as stationery brand Typo and shoe brand Rubi. Other brands in the group include Factorie, Supre and Ceres Life.
According to the group’s website, it operates in 20 countries with 20,000 employees.
