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SINGAPORE – All 22 Sasa International shops in Singapore will be shut down, the cosmetics retailer announced on Monday (Dec 2), in a move that is likely to affect about 170 workers.
It said its decision came after its stores here recorded losses for six consecutive years despite its efforts to turn the business around.
“In order to improve the performance of the Singapore market, the group had taken measures in recent years to restructure the local management team and to enhance store display and product mix with a view to driving sales.
“Regrettably, the results were far from satisfactory,” Sasa said in a statement.
In the six months ended Sept 30, its Singapore operations recorded a turnover of HK$99.4 million (S$17.3 million), a decline of 4.6 per cent from last year.
Sasa said the 170 employees will be fully compensated according to Singapore’s employment regulations.
The latest move is part of Sasa’s strategy to focus on its core market in Hong Kong, which has become more difficult due to a drastic decline in mainland China’s tourist arrivals, the cosmetic retailer added.
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