Tangs unveils new corporate identity to stay relevant, go global
Retailer Tangs has unveiled a new logo as part of a corporate re-branding to help the company go international.
But it is not just about a new look or a new goal.
Tangs is taking on a new retailing concept to keep pace with the field.
Tangs expects its new logo to take the company global and into the hearts of trendier shoppers in Singapore.
“The store is now catering to a much younger and hip crowd so our identity needs to reflect that. We also want this identity to be able to take us overseas and put us next to all the other international stores around the world,” says Tangs' executive chairman Tang Wee Sung.
The department store veteran has been trying out various retailing concepts including boutique-style shops and exclusive labels.
It says it wants to move away from a one-size-fits-all concept from now on.
And it aims to fashion itself into a specialty retailer for its new store at VivoCity, which is set to launch in about one week.
Tangs CEO Foo Tiang Sooi says: “We will not have some of the electrical department because we recognise that when we go into a mall, the specialists in these areas are already there. Therefore, we'll position ourselves as a fashion, lifestyle store.
“We will be flexible in terms of the size of our outlets, ranging from bigger formats to even boutiques. We believe that's the way to move forward.”
CK Tang emerged from over a decade of financial doldrums to declare its first dividend in 11 years this March.
The retailer says it wants to achieve economies of scale and grow its revenue at home and abroad.
It adds that it will do so by negotiating for more exclusive labels, which it says will help it secure better margins.
Tangs says it will follow up with training programmes for its associates to keep its new brand identity fresh in the minds of consumers.
It adds that it is also looking forward to new malls in the area, which it believes will bring new investment dollars and crowds.
Source:
http://www.channelnewsasia.com