Magazines Archives - 2007 January
Robinson wins rights to open River Island stores in Singapore and Malaysia
SINGAPORE-BASED Robinson & Co has secured exclusive rights to market British fashion label River Island, including opening stores in the city-state and Malaysia. The first store, expected to span 10,000sqf in size, is slated to open in Singapores VivoCity at month-end followed by the second at Raffles City in May.
Robinson CEO John Cheston said in the Business Times that the group would set up two to three River Island outlets in Malaysia by [year-end], with plans for four or five stores in Singapore.
The company operates Robinsons, John Little, Marks & Spencer, Principles and Trucco in the republic where it recently added 29,000sqf of floor space to its flagship Robinsons outlet in the new wing of Centrepoint Mall.
The group posted in the first quarter of this year, a turnover of S$75.1 million (US$48.8 million) for the 1 July-30 September 2006 period, up 1.6% from the same period in 2005. This was despite closing down underperforming stores.
Group profit from operations in the quarter more than doubled to S$3.2 million from S$1.3 million in the same period a year earlier, on improved gross profit margins achieved with reduced overheads.
River Island, which targets the 18-to 35-year-old shoppers, has 210 stores in the UK and Ireland, and 25 stores in other parts of the world.