Chinese menswear retailer Bosideng plans to increase its European presence by acquiring an existing apparel chain.

Just last week, Bosideng was said to have been seeking a potential partner to lead its expansion in the UK.

Now Bosideng, which runs a flagship store in London’s Molton St, is said to be close to reaching a deal to acquire an 80-store UK apparel chain.

The acquisition is aimed at boosting its brand image outside China. The increasing number of Chinese consumers travelling to Europe to shop Western brands is also another reason for acquiring the chain, says its VP for corporate strategy and investor relations Julie Sun.

“The majority of Chinese consumers still prefer Western brands and products over local ones,” said Sun.

Sun said Bosideng is likely to complete the acquisition by the end of next month. She declined to tell the amount of the chain, which according to her, is currently loss-making.