As part of its efforts to simplify its business model and focus on core banners and regions, the company announced earlier that it is transforming its business model in Asia through the following actions: Closing its stores and ecommerce in Hong Kong and Macau; Converting its current owned and operated stores and ecommerce in Singapore and Malaysia to a license model; Continuing to operate stores in South Korea; and Continuing to pursue growth in the region through license partners. MAP Active, who already partners with the company in Indonesia and the Philippines, will take over the company’s store and ecommerce operations in Singapore and Malaysia, and seek to grow in those markets and new markets in the region over time.
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