Post by : Shakul

Cotton On has clarified that it has no plans to exit the Asian market, following confusion triggered by reports of a company liquidation linked to its regional operations.

The clarification came after news emerged that Cotton On Asia Pte Ltd had been placed under members’ voluntary liquidation. However, the company stated that the entity in question was an inactive holding company that neither operated retail stores nor employed any staff.

According to a spokesperson, the liquidation process has no impact on the brand’s retail presence, employees, suppliers, or customers across Asia. The company emphasized that all existing stores in the region continue to operate as usual.

The move is part of an internal corporate restructuring effort, often undertaken by multinational firms to simplify their legal and financial structures. Such inactive entities are commonly dissolved when no longer required.

Cotton On maintains a strong footprint in Asia, including operations in Singapore, where it runs multiple brands such as Cotton On, Cotton On Body, Cotton On Kids, Typo, and Rubi. Globally, the company operates across more than 20 countries with over 1,300 stores and employs around 20,000 people.

The clarification aims to address misinformation and reassure customers and stakeholders that its Asia business remains stable and unaffected.

#world news #Global News #Business News #Singapore News