Asia Brands to consolidate

File picture shows one of Asia Brands' Anakku store. At present, the group manages 1,500 consignment outlets in department stores, 248 standalone stores and four large-format stores with a combined 785,000 sq ft.

WITH 2014 and 2015 expected to be belt-tightening years for consumers, retailer Asia Brands Bhd plans to close its unprofitable stores and pare down debts incurred for its RM245mil acquisition of the Anakku and Audrey brands.

The garment maker and wholesaler-turned-brand manager also aims to be syariah compliant and derive tax savings from converting its borrowings into working capital, chief executive officer and executive director Cheah Yong Hock tells StarBizWeek in an interview.