China-focused retailer AuMake has added four new stores to its network, bringing the company’s total to 17.
On Friday the daigou retailer, which sells well-known Australian brands and private label health products, skincare and infant formula, is venturing outside Sydney with the opening of its first store in Brisbane and Auckland.
The company is also adding a further two stores to its Sydney network in Campsie and Haymarket.
AuMake said it expects the new stores to be profitable soon after opening and to increase the company’s internal sales forecast by 30 to 40 per cent.
The company said it is looking to open more stores in Brisbane and Auckland.
“The current retail network is highly profitable and we are confident that future stores, including the four stores that we have announced today, will follow the same profitable growth path,” executive chairman Keong Chan said in a statement on Friday.
“This growth in store profit will soon surpass the costs to run our business and will ultimately deliver long term and sustainable returns to our shareholders.”
The retailer added that future growth is not limited to Australia and New Zealand and by increasing market share and brand profile the business is increasing its relevance in China.
“The potential for a trusted Australian retail brand like AuMake in China is unprecedented and we are unwavering on this end goal.”