Cotton On plans next stage of global growth
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Cotton On Group has revealed plans to add 227 jobs in Australia and overseas this year as the Geelong-based value fashion retailer embarks on another expansion phase aimed at maintaining its five-year record of 20 percent-plus sales growth.
Cotton On Group’s sales are forecast to rise 22.5 percent in 2015 to AUD1.51 billion (USD1.17b) and the privately owned company is budgeting for 20 percent-plus growth in 2016 by opening more than 100 stores and expanding e-commerce with new online sites, improved digital content and click and collect options.
Over the next three years, the group plans to open 570 stores around the globe, taking the total to almost 1900, while lifting online sales to AUD250 million.
Questions & Answers
Q.What is Cotton On's sales growth target for the upcoming year?
What is Cotton On's sales growth target for the upcoming year?
Cotton On is budgeting for 20 percent-plus sales growth in 2016. This follows a forecast 22.5 percent rise in 2015, maintaining a five-year record of strong performance for the value fashion retailer.
Q.How many new jobs does Cotton On plan to create this year?
How many new jobs does Cotton On plan to create this year?
The Cotton On Group plans to add 227 new jobs in Australia and overseas this year. This recruitment drive supports their ongoing expansion phase and continued global growth targets for the business.
Q.What are Cotton On's plans for store expansion over the next three years?
What are Cotton On's plans for store expansion over the next three years?
Cotton On plans to open 570 new stores globally over the next three years. This expansion will bring their total store count to almost 1900 worldwide, significantly increasing their retail footprint.
Q.What is the company's target for online sales in the coming years?
What is the company's target for online sales in the coming years?
The Cotton On Group aims to lift online sales to AUD250 million. They plan to achieve this by expanding e-commerce with new online sites, improved digital content, and click and collect options.