- Aumake (AUK) has opened its Market City store in Sydney’s central business district, culminating in five physical retail stores now reopened
- The company says since reopening in November it has seen an increase in foot traffic and instore revenue, bolstered by the return of international students
- Meanwhile, Aumake’s has made similar observations of increasing foot traffic and revenue under its distribution agreement with MINISO Australia
- Aumake says the partnership creates a significant revenue opportunity for the company, coupled with a reduction in overhead costs
- Aumake is up 3.33 per cent and trading at 1.6 cents
Aumake (AUK) has recently opened its Market City store in Sydney’s central business district, culminating in the operating of five physical retail stores.
Aumake uses physical stores and an e-commerce online platform to promote new brands and products to Asian markets.
Since reopening several Aumake’s physical stores in November, the company said it has seen an increase in foot traffic and instore revenue.
This has been bolstered by international students who have been allowed to re-enter Australia. Under the current Australian Federal Government guidelines, another 150,000 international students will be allowed to return to study and live in Australia from December 15.
Meanwhile, Aumake’s distribution agreement with MINISO Australia is reportedly progressing well, with similar observations of increasing foot physical traffic and revenue from the distribution of MINISO and Aumake inventory.
Aumake said the partnership creates a significant revenue opportunity for the company, coupled with a reduction in overhead costs.
“We are strongly-positioned to wrap up this calendar year and begin 2022 on a transformational note as we welcome back international students to our physical store network and upgraded e-commerce platform,” Aumake Managing Director Joshua Zhou said.
“The addition of new Australian and New Zealand brands and products to our inventory combined with our partnerships with third-party retailers such as MINISO has bolstered our capital light business approach into the new year.”
Aumake was up 3.33 per cent, trading at 1.6 cents at 2:17 pm AEDT.