Sunday , May 22 2022

Tois & # 39; R & # 39; Us Asia is planning to expand after being split with a US parent, Business Nevs & Top Stories



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Chain Tois & # 39; R & # 39; Us Asia plans to expand after announcing separation from its parent last week.

It will increase IT investments – such as e-commerce operations – and grocery stores and cigarettes, including eight in Singapore.

It will also reopen its branches in the Grand City and Citi Skara Mall next month, after renovation.

President and Chief Executive Officer Andre Javes told the Hong Kong phone yesterday: "Separation from our previous parent company Tois" R & # 39; Us Inc. "means that our current shareholders – Fung Retailing and Tadž notebooks are focused on … only One thing: the development and growth of Tois's Asia in our countries. "

Tois & # 39; R & # 39; Us Asia was a joint venture between Fung Group and Fung Retailing Army and Tois & # 39; Us, who filed a claim for bankruptcy last year.

But the bearers of sent US parents just concluded an agreement that left them a collective 79 percent interest in the Asian hand.

Mr. Javes said that the regional group is paying a license for a brand for at least 20 years.

  • 32.8%

    Increase yoy tax revenue for Tois & # 39; R & # 39; Us (Singapore) for the year until December 31, 2017

According to the new ownership, Tois & # 39; Us Us Asia, which has more than 500 regional stores, including franchises in Macau and the Philippines, puts money into renovating its outlets and opening new ones, he added.

The group also plans to upgrade IT systems and better use of data.

Although management would not disclose the breakdown between online sales and brick and mortar, Mr Javes noted that the growth of e-commerce revenue exceeded its equivalent offline.

"We are a company that is consistently growing, over the last 10 years," he said.

"Of course, our growth has been exponential in the last five years."

Mr Javes said that the Asian unit succeeded better than its former US parent because Asian shops are inside the malls, not the ones themselves.

"The price of marketing becomes much higher when you are trying to bring people to an independent location. Operating costs for the job are much higher."

He added: "What is unique to the US or most Western countries is the sales model.

"Most sales have taken place over the last two or three months of the year, for Christmas or holiday season. This means that your whole year is based on your ability to complete and deliver your Christmas plan, and if that fails, then" you're really challenging for the results of your year-long years. "

He said sales were more distributed during the calendar year in Asia, with the support of a wider variety of celebrations such as the Golden Week in China, where the group has 166 stores.

Shopping Tois & R & # 39; We in the region are less than a quarter of the size of their American counterparts, on average around 10,000 sk ft.

The company would not disclose the financial results of the group or the share of contributions from its operations in Singapore.

A record of accounting and corporate regulatory authorities shows that Tois' R & # 39; Us (Singapore) posted a post-tax profit of $ 8.05 million for the year to 31 December 2017 – 32.8 percent more than the previous year.

Revenues rose 16.9 percent to $ 77.2 million.

Mr. Javes said that the changes to the Tois & # 39; R & # 39; Us Asia "at the shareholder level, not at the operational level."

"So we will recruit more employees. We increase the talent and resources we have in those countries, such as, for example, increasing the number of our sellers.

"We do not anticipate major structural changes in different markets," he added,

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