SSI Set to Start Online Retailing, Acquires New Brands
Makati—(PHStocks)—SSI Group Inc. (PSE: SSI) is set to launch its online retailing site under the name SSI Life. The website ssilife.com.ph will make many leading brands in the SSI portfolio available on line beginning November 15, 2014. The website will initially launch with brands such as Marks & Spencer, TWG, Oliviers & Co, Payless Shoe Source, Nine West, Aerosoles, Bass, Superga, Steve Madden, MBT, OkaB, A/X Armani Exchange, Replay, High Sierra, Samsonite, Beauty Bar and MakeRoom with more to be added in the following months.
“The Philippines is one of the world’s fastest growing internet markets and we expect this growth to further escalate over the next few years as disposable income and broadband penetration continues to increase,” said Anton Huang, President of SSI Group. “We are the only e-commerce participant that is able to implement an omni-channel approach where our bricks and mortar stores will complement the on-line shopping experience of our customers and viceversa.”
SSI has also acquired the Philippine franchise rights to 3 new international brands. These brands are Hamley’s, the iconic British toy retailer; C. Wonder, an accesible luxury brand from the U.S. that retails women’s clothing with a fresh twist, personalized gifts, stylish accessories and home décor items; and Salad Stop, a popular Singaporean chain serving fresh and healthy salads and wraps.
The acquisition of these new brands is in-line with SSI’s 2014 expansion plans which saw the Company’s store network grow to 690 stores covering more than 122,000 sq.m. as of end-September.
According to Huang, “These new brands are a valuable addition to our portfolio allowing us to continue to broaden the range of products we are able to offer to Filipino consumers. Hamley’s is SSI’s first venture into specialty toy retailing while Salad Stop is an exciting addition to our specialty food portfolio. C. Wonder, on the other hand, is an up and coming brand that we expect will resonate with Filipino shoppers.”
In December, SSI will also open the first Philippine stores of Coretfiel, a leading Spanish retailer of stylish men’s and women’s accessories, and Reiss, an affordable luxury brand from the UK specializing in modern and design-led women’s apparel and accessories.