Bonia banks on Vietnam, Indonesia
Nov 4, 2015
Fashion retailer Bonia is ramping up its presence in Vietnam, Indonesia and Cambodia as it looks to fresh sources of income as sales slide in its home market of Malaysia.
As well as operating stores under its own brand name, Bonia, owns Sembonia and Carlo Rino, and has the license to distribute international labels including Braun Buffel , Santa Barbara Polo & Racquet Club, Jeep and Pierre Cardin. It boasts more than 1400 sales outlets and 170 standalone boutiques globally.
The company says sales in Vietnam soared 34.8 per cent to RM27.7 million (US$6.5 million) while revenue from Indonesia rose 35.7 per cent to RM29.6 million US$6.9 million).
Total revenue for the year was up marginally by 0.54 per cent to RM695.33 million (US$162 million). But profit fell 17.78 per cent.
“The boutiques’ revenue for last quarter for Malaysia and Singapore dropped by 28 per cent and 10 per cent respectively due to lower consumer traffic, be it local or tourists to our stores,” the company said in a statement.
However, the company said total Singapore sales increased by 0.8 per cent due higher contributions from its new Bonia store in Westgate and its existing Braun Buffel stores in Westgate and Ion Orchard.
“Moving forward, the group will continue to undertake more promotional activities as part of the stock rationalisation program and to boost our topline,” the company said in its report.
“The group will also try to maintain its profit margin by closure of non-profitable stores and more selective in store openings,” it said.