“There have been misleading media reports suggesting that Cotton On stores operating in Asia are being closed, this information is incorrect and we have no plans to exit the Asia region,” a Cotton On spokesperson said on March 31, as reported by Channel News Asia.

A notice published in the Government Gazette on March 30 stated that Cotton On Asia would undergo voluntary liquidation, with liquidators from PwC Singapore appointed to wind up the business.

In its statement, the company said Cotton On Asia (the entity being liquidated) does not and has never operated any stores or employed staff, noting that it was an inactive holding company that is no longer needed.

“This has no impact on customers, teams, stores, suppliers or operations within the Asia region,” the spokesman said.

Speaking to The Straits Times on March 31, Cotton On Group chief financial officer Michael Hardwick said Cotton On Asia had served as a common structure, with Cotton On Singapore as its sole entity.

With Cotton On Singapore now placed under the group’s principal operating company, Cotton On International Pty Ltd, there is no longer a need for Cotton On Asia as an intermediary entity, Hardwick said.

He added: “Asia continues to be an important region for the Cotton On business and a vital part of our long-term growth strategy.”

The group operates 192 stores across Asia under four brands: Cotton On, Cotton On Body, Cotton On Kids and Typo. It has 33 stores in Singapore.

Its Asia business recorded total sales of AUD232 million (US$159 million) in the 2025 financial year.

The spokesperson said that the company plans to open four Cotton On Mega stores across Singapore and Malaysia over the next 12 months, and will soon begin a major refurbishment of its outlet at Mid Valley Megamall in Kuala Lumpur.

It will also launch a new concept Typo store in Malaysia on April 2, along with four additional Typo locations across Asia by mid-August.

The Cotton On Group was founded in Geelong, Australia, in 1991 by Nigel Austin. It opened its first Singapore store at Wisma Atria in 2007, and established its Asia headquarters there in 2014 with more than 90 staff.

The group operates in 20 countries and employs 20,000 people worldwide, according to its website.