In a first for the Australian-based retailer, Cotton On Group has purchased a Tauranga shopping centre in the growth area of Papamoa. The area is expected to see a population increase of 56 percent over the next 12 years, with the group planning to occupy five of the 20 stores available to them.

Purchased for $6.25million, the group is only part way through its three-year expansion plan in which it is aiming to add 1000 new staff to its New Zealand team, with an expected revenue growth of 50 percent over the period.

Currently, the group has 142 stores in New Zealand, which is an 11 store increase from last year, and with another 20 planned openings within the financial year.