Retail News CRM

Tag: Premier Investments

  • Smiggle Asia shows positive growth

    Smiggle Asia shows positive growth

    Smiggle Asia is thriving, its success here encouraging the stationery retailer’s parent to expand in other global markets.

    Smiggle, a subsidiary of Australian listed company Premier Investments, opened three new stores in Hong Kong in the first half of its current trading year and a further two in Malaysia. Both markets now have 13 Smiggle stores trading.

    “The brand now expects to have between 17 and 19 stores operating in Malaysia within three years of first opening. This is well ahead of the original plan,” the company said in an earnings filing.

    “The Smiggle Asia division had an exceptionally strong half. Singapore, the most mature of the Asian markets, enjoyed strong like-for-like growth with tourists providing valuable insights into potential new Smiggle markets.”

    The brand achieved record global sales of A$170.7 million (US$131.6 million) in the first half, up 26.7 per cent on the same time last year, underpinned by the opening of 35 new stores. More than 60 per cent of Smiggle sales during the period were from outside Australia. Smiggle now has 332 stores across Australia, New Zealand, Singapore, England, Scotland, Wales, Northern Ireland, Hong Kong, Malaysia and Ireland.

    The company will open a global flagship on Oxford Street in London in May as the UK business aims for $200 million in annual sales by next year.

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  • Smiggle plans Hong Kong, Malaysia roll-out

    Smiggle plans Hong Kong, Malaysia roll-out

    Trendy stationery retailer Smiggle says it will open two more stores in Hong Kong in the next six months.

    Smiggle, owned by Australian-listed multi-brand retail group Premier Investments, also plans its first store in Malaysia before July 31 and expects to build a network of 50 stores across Hong Kong and Malaysia during the next five years.

    The chain already has 42 stores trading in the UK, plans 18 more over the next six months, and targets 100 there by Christmas.

    The Smiggle plans were revealed in the parent company’s half year result to January 30, The company, which also owns the Peter Alexander nightwear, Dotti, Jay Jays, Just Jeans, Portmans and Jacqui-E retail chains, predominantly trades in Australia and New Zealand. But Smiggle is a standout.

    Premier’s chairman, Solomon Lew, says Smiggle will remain and strong growth driver for the group.

    “Smiggle delivered global sales growth of 46.5 per cent and our UK roll-out is progressing well ahead of schedule. We continue to believe that Smiggle has the potential to become a truly global brand.”

    The company reported a net profit of AU$98.3 million (HK$583.625 million) for the half ended 30 January 2016, up 24.9 per cent year-on-year, before tax and interest.

    Total sales were up 15.1 per cent to AU$565 million, while like-for-like sales were up 6.9 per cent.

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  • Smiggle speeds Asian expansion

    Smiggle speeds Asian expansion

    Smiggle, the trendy, stationery retail concept from Australia, is to open stores in Hong Kong and Malaysia within 14 months.

    Smiggle – popular with students and people seeking gifts – has proven an enormous success in Singapore for its parent, Melbourne-based Premier Investments. During the announcement of the company’s trading results yesterday (read about Premier’s year here) founder and chairman Solomon Lew outlined plans to expand into Hong Kong, Malaysia, Wales and Scotland over the next 14 months.

    Based on trading figures from the company’s Singapore store network, Lew said management expected Hong Kong and Malaysia to support 50 stores within five years.

    “I am pleased to announce the expansion of the Smiggle footprint in Asia through entry into two new markets, Malaysia and Hong Kong.”

    Smiggle’s worldwide sales rose 26 per cent. The company opened 24 stores in the UK during the last trading year and expects to have another 16 open before Christmas.

    Lew says both Smiggle and its sleepwear chain Peter Alexander performed beyond expectations in the year past.

    The company opened eight new Peter Alexander stores in the first half of the current year and plans as many as 15 more over the next two years in Australia and New Zealand.