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New Look eyes China

Fashion retailer New Look plans to open 21 stores in China by the end of next year.

New Look says it is eyeing international markets such as China, Russia, Poland and Germany for further growth.

It has already signed up for six stores in Beijing and Shanghai with another 15 to open before next year ends.

The expansion plans come after it posted a profit of £13.8 million in the six months to September compared to its loss of £13.6 million a year ago.

New Look CEO Anders Kristiansen said the company is ruling out an IPO in the next 12 months as the company focuses on strategy execution at the moment.

The company, owned by PE firms Apax and Permira, currently trades from over 1100 stores across 32 countries.

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