New Look to enter China

British fashion chain New Look plans to enter China next year capitalising on Chinese love of ‘a western brand with a British heritage’.

New Look attempted to establish a partnership in China last year to open stores, however, the deal did not materialise.

This time, the brand is well poised to test the water, says new CEO Anders Kristiansen, who was a former vice CEO of Bestseller, a Danish company which runs Vero Moda and Jack & Jones brands.

Kristiansen said New Look will wholly operate its stores in China, rather than pursue a joint venture. The company is looking to open five to 10 stores at the beginning with the first locations in first-tier cities such as Shanghai and Beijing.

The fashion chain is also looking to enter India through a joint venture partnership.

New Look is owned by private equity groups Apax and Permira and founder Tom Singh. The company is taking steps to refinance its debt worth £1.1 billion.

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