AUSTRALIA: Oroton focuses on developing Asian footprint
Australian luxury apparel and accessories brand Oroton has revealed plans to expand its presence online and in Asia.
Speaking at the company's AGM yesterday (30 November), chairman Ross Lane said the company intends to focus on multi-channel retailing and "considered and careful geographical expansion into Asia".
Lane said the retailer, which entered Asia during the current financial year, is committed to opening four stores a year in Singapore, Malaysia and Hong Kong. The moves "should be seen as a mark of our confidence in the performance of our current four stores for the foreseeable future," said Lane.
He emphasised that Oroton is building a brand and business for the "long term" and that the international division would not be a material part of the business for several years.
The company is continuing to review potential strategic acquisition opportunities within Australia, added Lane.
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