New Look set to open in China
Source: Mintel 04-03-2013
New Look, the high street fashion chain, has announced plans to open its first store in China, despite currently preparing to refinance its £1bn of net debt.
The value-fashion group’s new chief executive, Anders Kristiansen, stated that the group hoped to open its first store in China by Spring 2014. Prior to joining New Look in January 2013, Kristiansen has spent the last ten years working in retail in China, leading to the announcement that, under his leadership, New Look will enter China alone, rather than through a joint venture as it had previously planned.
New Look is currently eyeing tier-one Chinese cities, including Beijing and Shanghai for the location of the initial store. The group plans to then roll out between five and ten more stores
New Look have announced that they are planning to expand in to China. With the brand looking to grow within the international markets, its important when developing the new premium collection that it has an international appeal.
ReplyDelete