Cotton On Group has confirmed it is withdrawing its fashion brand Factorie from Malaysia and Singapore.
A spokesperson says the move impacts eight outlets, four in each country, but the company will seek to improve its store footprint across the markets. “We value the incredible contribution our team members have made to Factorie …they remain our number-one priority and we’re working closely with them to identify opportunities for their redeployment within the business.”
The spokesperson would not comment on the reason behind the closure. While the stores are scheduled to shutter by the end of next month, Factorie products will still be available online on Zalora.
Factorie entered the Asia Pacific market in 2013. Its latest move follows fashion brands such as Celio and New Look leaving the Singapore market.
Meanwhile, the retail industry in Malaysia saw sales dip 1.1 per cent in the third quarter last year. According to a Retail Group Malaysia report, this was because of a drop in purchasing power among Malaysians.