TT International unveils Singapore expansion plan

Eyeing warehousing and supply chain services.

In a corporate business update disclosed to the Singapore Exchange, TT International said that its recently launched BIG BOX will serve as one of the pillars of its retail strategy in Singapore. Eventually, the company plans to offer warehousing and supply chain management services to third-party merchants in the Jurong vicinity.

Here's the full Singapore strategy and outlook from TT International:

Focusing on expanding in Singapore and Indonesia in the near term, the Group intends to grow its total Asian retail network to 300 stores with approximately 3.0 million sq ft within five years.

The launch of BIG BOX will add a new dimension to the Group’s retail operations in Singapore and also significantly transform the corporate destiny of TTI. As the largest (400,000 sq. ft. of retail space and 600,000 sq. ft. for warehouse and logistics facilities) and newest of only four Warehouse Retail Scheme (“WRS”) malls in Singapore, BIG BOX is expected to add vibrancy to the Jurong Gateway vicinity.

Capitalising on the Group’s global network, market know-how and expertise in sourcing and distribution, BIG BOX seeks to transfer savings to the consumers in Singapore through large sales volumes managed directly from factory to storefront. Under the terms of the WRS, BIG BOX must achieve turnover of at least S$200 million by the fifth year of operation. The directors are reasonably confident of achieving this target significantly earlier. Beyond retail, BIG BOX also intends to offer warehousing and supply chain management services to third-party merchants in the Jurong vicinity.

With extensive Sourcing and Brand Management experience of 30 years, the Group’s Akira brand has established a leading position in consumer electronics in several emerging markets. Its furniture and furnishing arm, F&F, which manages brands such as Novena, Barang Barang and Castilla, has also started expanding beyond Singapore, while being the Asian Master Franchisee for Habitat. TTA Holdings Limited, which is 86%-owned by TTI, serves as the Australian marketing and distribution arm for TEAC Corporation of Japan under a 15-year Master Franchisee Agreement, representing a wide range of audio and visual consumer electronics products.

The Group intends to widen its global presence and license its brand portfolio. It will also expand its full-service sourcing solutions, including quality control, quality assurance and after-sales service, for international hyper-market chains. It also intends to capitalise on this expertise and its supply chain management skills to create a knowledge-based platform equipped with IT infrastructure for TTI’s companies as well as Small and Medium Enterprises (SMEs) in Singapore to tap on.