事件經過
Cotton On 於1991年在澳洲吉朗(Geelong)創立,並於2007年在 Wisma Atria 開設新加坡首間門店。新加坡其後成為進軍亞洲的灘頭堡——香港、馬來西亞、菲律賓、泰國及印尼的門店相繼開設——集團並於2014年在新加坡設立亞洲總部,團隊成員超過90人。至2026年,集團在新加坡經營五個品牌,分別為 Cotton On、Cotton On Body、Cotton On Kids、Typo 及 Rubi,其網站列出超過30間門店。
2026年3月,集團架構重新調整。Cotton On Singapore 被直接置於集團主要營運公司 Cotton On International Pty Ltd 之下,中介控股公司 Cotton On Asia Pte Ltd 因而變得多餘。在3月25日以視像會議方式舉行的股東特別大會後,3月30日刊憲的政府憲報公告將其置於成員自願清盤程序。Cotton On 形容有關退出的報道「具誤導性」:該公司表示,被清盤的實體是「一間不再需要的非活躍控股公司」,對亞洲的門店、員工或供應商並無影響。
縮減規模的行動仍然持續。至2026年7月2日,Velocity @ Novena Square 門店已經結業,NEX 門店亦即將關閉,兩者均因租約到期,公司表示正「探索新機遇」。新加坡餘下27間門店,涵蓋 Cotton On、Cotton On Body 及 Cotton On Kids——較集團3月時列出五個品牌合共超過30間門店的數目為少。
代價
以成員自願清盤方式清算該非活躍樞紐實體,隨著兩份租約到期,門店數目由30多間減至27間。
原因
2014年的亞洲總部架構是為擴張年代而設;一旦新加坡被直接納入澳洲營運公司之下,該樞紐控股實體便成為多餘的經常性開支。
成員自願清盤在法律上並無害處,但實際上以及在憲報上,它終結了使新加坡成為區域基地的樞紐架構。
品牌名單悄然由五個收窄至三個,而「無計劃退出亞洲」的說法,亦未能阻止另外兩份租約在三個月內到期。
教訓
Cotton On 於2014年將新加坡設為亞洲總部;至2026年3月,控股公司因屬多餘而完成清算,至7月再有兩間門店因租約到期而結業——由30多間減至27間。
後續
Cotton On Asia Pte Ltd 的成員自願清盤程序正在進行,並已通知債權人提交申索。Cotton On Singapore 作為一間仍存續的公司,直接隸屬於 Cotton On International Pty Ltd,旗下有27間門店,並發表聲明表示正探索新的零售機遇;集團堅稱無計劃退出亞洲。
追溯依據
參考來源
- CNA — "Cotton On Asia enters voluntary liquidation", 30 March 2026 (Cotton On Asia placed under members' voluntary liquidation per Government Gazette notice Monday Mar 30; followed extraordinary general meeting via video teleconference Mar 25; creditors notified to submit outstanding debts or claims; ACRA lists Cotton On Asia as holding company 'in liquidation'; Cotton On Singapore listed as live company; group founded in Australia 1991; first Singapore store at Wisma Atria 2007; Asia headquarters established here 2014 with over 90 team members; five brands in Singapore — Cotton On, Cotton On Body, Cotton On Kids, Typo, Rubi; website listed over 30 Singapore stores) channelnewsasia.com
- CNA — "Cotton On says no plans to exit Asia; liquidated Asian entity does not operate stores", 31 March 2026 (Cotton On on Tuesday Mar 31 said no plans to exit Asia region; 'misleading media reports suggesting that Cotton On stores operating in Asia are being closed, this information is incorrect'; Cotton On Asia Pte Ltd 'does not and has never operated any stores or employed team members'; described as 'an inactive holding company that was no longer required'; no impact on customer, team, stores, suppliers or operations within Asia; group operates eight brands across 20 countries and 1,300 stores employing about 20,000 people) channelnewsasia.com
- The Straits Times — "Cotton On shuts two Singapore stores as leases expire", 2 July 2026 (Velocity @ Novena Square outlet shuttered when ST visited July 1; NEX outlet shelves emptied and mannequins undressed, close date unconfirmed; spokesperson said leases for both locations expired; 27 stores remain in Singapore under Cotton On, Cotton On Body, Cotton On Kids; company 'exploring new opportunities to continue delivering the best retail experience'; Cotton On Singapore previously sole subsidiary of Cotton On Asia now placed directly under group's principal operating company Cotton On International Pty Ltd; founded Geelong 1991, first Singapore store Wisma Atria 2007, Asia HQ here 2014) straitstimes.com