Rumors recently sent a wave of panic through the retail scene, suggesting that the popular Australian lifestyle brand Cotton On was packing up and completely exiting the Asian market. If you were worried about losing your go-to spot for affordable basics, you can officially breathe a sigh of relief. The fashion giant has firmly shut down claims that Cotton On is closing down in Singapore. The group confirmed that they have absolutely no plans to close their doors in Asia and that local stores are operating as usual. Here’s what we know.
What’s the real story behind these liquidation claims?
The widespread confusion all stemmed from a recent notice in the Singapore Government Gazette—which stated that a business entity named Cotton On Asia Pte Ltd was undergoing voluntary liquidation. Because the name sounds all-encompassing, media reports quickly assumed the worst. However, a company spokesperson was quick to clarify that the liquidated entity in question was simply an inactive holding company that no longer needed for their corporate structure.
Most importantly, the brand emphasized that the inactive company does not, and never did, operate any physical retail stores or employ any store staff. The day-to-day operations are actually managed by a completely separate entity, meaning this corporate housekeeping move has zero impact on customers, employees, suppliers, or your local shopping mall.
Far from scaling back, Cotton On is actually doubling down in the region, with active plans to open new Cotton Mega locations and fresh Typo concept stores across Singapore and Malaysia over the next year.
In other news, Fitbit Singapore is being voluntarily liquidated as Google completes its takeover of the fitness tracker brand.
