Australia’s Oroton eyes Asia, online market for growth
Oroton Group, an Australian fashion accessories and apparel firm, is eyeing Asian and online markets for expansion and growth, while continuing to review acquisition prospects at home front.
Rose Lane, Chairman of the listed company, said Oroton Group has undertaken to unveil four outlets per year in Hong Kong, Singapore and Malaysia.
Lane stated that presently the company’s first Asian outlet has not even completed one year of its operation. Hence, international retail trade would not form a substantial part of its business for many years, but it is a stimulating part of the company’s operations.
Meanwhile, he said the company would continue assessing prospective strategic acquisition opportunities within Australia itself.
Oroton Group CEO Sally Macdonald said trading situation in apparel market is generally weak and competition continues to grow.
However, the company is meeting robust sales growth online, she added.
The firm continues to search newer options to earn itself recognition in the market and to add new customers, both domestic as well as international, to its clientele, she said.
She revealed that their multi-channel model across factory outlets, wholesale, concession stoes, full-price stores, social media sites like Facebook and now varied languages and several countries, provides Oroton with a wider market access and also adaptability to rapidly respond to external changes.