Cath Kidston to expand to Singapore, Indonesia
British retailer Cath Kidston will open its first stores in Singapore and Indonesia in coming months.
The homewares brand already operates in Hong Kong, Taiwan, Japan, Thailand, Korea, and in China where it will open a new flagship store in Shanghai in November.
“We’ve been predominantly expanding to Asia, the Asian consumer finds the brand appealing,” said CEO Kenny Wilson.
Cath Kidston, whose EBITDA rose 13 per cent to £21 million in the year to March, operates 58 stores in the UK and 60 abroad.
The retailer saw its sales in international markets jump 53 per cent while domestic sales grew 21 per cent.
While the UK remains a challenging environment, Cath Kidston plans to open its largest store in Piccadilly, that will offer a “VIP shopping experiences”, in December.
“There’s definitely a renewed optimism in the UK, although we are in the early stages in terms of recovery,” said Wilson.
Cath Kidston is controlled by US PE firm TA Associates, which acquired 60 per cent stake in the company in 2010.