Cortefiel Group’s Women’secret plans to establish a presence in China following a partnership with a Korea-based company.

Women’secret struck a deal with The Basic House to open more than 300 stores in China over the next five years.

The Basic House has a consolidated and long-standing experience in the Asian retail sector, where it has been operating since 2000 under four fashion brands: Basic House, Mind Bridge, Voll and The Class. It currently has more than 1500 stores and corners in South Korea, China, Hong Kong, Russia, Saudi Arabia, Kuwait and Armenia.

The latest alliance, which comes on the heels of the recent agreement signed in March for the Chinese launch of Springfield and Pedro del Hierro, represents another step in Cortefiel Group’s globalisation strategy to position its brands in key markets with the support of international partners.

It is also part of the group’s mid-term objective of achieving 50 per cent of its total sales in international markets.

The retail formats for the Cortefiel Group brands will be centred mainly on individual stores and shops in shops in department stores throughout the country.

Women’secret was created in 1993 in Madrid. The brand offers underwear, sleepwear, accessories and swimwear for women.

Besides Women’secret, fashion retailer Cortefiel Group owns brands Cortefiel, Springfield, Pedro del Hierro and Fifty Factory. The group is present in 60 countries with 1837 points of sale, 1283 own stores and 554 franchises.

GB