Chinese apparel company Bosideng has acquired 96 per cent of British brand Greenwoods for 40 million yuan ($6.5 million).

Greenwoods has more than 150 years as a menswear retailer operating the brands ‘Greenwoods’ and ‘1860’ in the UK.

Bosideng says it believes the acquisition will improve its market share and business scale in the UK menswear market – and it sees the deal as acquiring talent with rich experience in the industry.

The acquisition will also enable Bosideng to quickly open a stable, reliable and low-cost retail channel for its down apparel brands which have positioning and target customer base similar to those of Greenwoods, further expanding its export business in down apparel.

Bosideng’s London flagship store will share some operating costs with Greenwoods, thus enhancing each other’s operating efficiency, it says.

The Chinese company has a portfolio of brands including Bosideng, Bosideng Man, Snow Flying, Combo, Bengen, Jessie ladies’ wear and Mogao casual wear.