The listed luxury brand retailer SSI Group Inc. plans to increase the sales contribution of its e-commerce platforms to 15 to 20 percent over the next three years, said its top manager.
“From an e-commerce perspective with a view to the future, our goal over the next three years is to increase our e-commerce sales to around 15 to 20 percent of our total sales,” said SSI President Anthony Huang during the virtual launch from on Tuesday their new digital platform.
Huang found that its e-commerce segment grew 401 percent in sales from January through September while the community quarantine measures were implemented in the country.
The company stated that e-commerce contributed around 5 percent to total revenue year over year.
The value increased to 8 percent in the first one and a half to two months of the third quarter.
The SSI Group will launch its multi-brand e-commerce website Trunc.ph on November 6th, which would complement its 10 existing brand.com websites.
The company announced that Trunc.ph will initially stock over 100 of the group’s high-end luxury and casual brands, spanning fashion, beauty, and home accessories.
“The Group’s ability to innovate and adapt, in addition to the robust operational and financial foundation it has built in recent years, will drive our accelerated e-commerce strategy as we seek to increase the number of channels our customers are using interact, ”Huang said in a separate statement.
SSI posted a net loss of 476 million lockdown measures in the first half of the year.
Huang said they have reopened 99 percent of their stores so far and have seen steady sales growth every week.
SSI Group’s shares rose 15 centavos, or 11.45 percent, to close at P1.46 apiece on Tuesday.
