Sasa Is Shutting Down All 22 Singapore Outlets. What Will Happen To Malaysia's Stores?
Sasa announced on Monday, 2 December, that it will be shutting down all 22 of its outlets in Singapore
After recording six consecutive years of losses in Singapore, the Hong Kong cosmetics retail giant has decided to close down all of its outlets in the country.
According to CNA, the Group explained it had tried to "restructure the local management team and to enhance store display and product mix with a view to driving sales" in recent years.
However, despite efforts to turn the business around, the results were unsatisfactory.
The news of the shutdown created quite a stir on the Internet from Singapore fans
So what does that mean for Sasa outlets in Malaysia?
Make-up fans in Malaysia do not have to worry for now because Sasa has decided to focus its resources in Malaysia, Hong Kong, Macau, and China, along with its e-commerce business.
"The Group believes that the closure of its business in Singapore will help improve the performance and profitability of its remaining businesses, and is in the best interests of the Group and the shareholders as a whole," the company said, in a press statement to CNA.