British Apparel New Look Plans To Invest 100 Stores In China

Less than p ago, British fashion chain store New Look plans to enter the Chinese market.

At present, New Look Group Ltd., a British retailer, has released more detailed plans. It is reported that New Look plans to open its first store in China in March next year, expanding to 20 at the end of the year, and plans to invest 100 stores in China.

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< p > Anders Kristiansen, who is the chief executive of New Look Group Ltd. in January this year, has many years of experience in Chinese market. After that, he had Vero Moda and Jack & Jones JACK&JONES's two brand Danish parent company, and became Vice President of the group.

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< p > Anders Kristiansen indicates that it has had good communication with China's property, and it is a very correct strategy to enter China. However, he said he would "step by step".

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< p > New Look released the 2013 fiscal year ended March 30, 2013 earnings. In fiscal year 2013, EBITDA profit increased by 29% to 189 million 200 thousand pounds after depreciation, amortization and interest tax. Group sales increased 2.5% to 1 billion 480 million pounds, of which sales in the same store in the UK decreased by 0.5% compared to the same period in the same quarter, while sales in Europe increased 3.2% over the same period, while online sales increased by 50.1%; and gross margin increased by 2%.

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< p > New Look Group Ltd. said in the earnings report that the private equity fund Permira Advisers LLP and Apax Partners Worldwide last month were financing the net debt of 1 billion 100 million pounds for the company, and the financing will be extended to 2018.

New Look, which withdrew the listing plan of 1 billion 800 million pounds three years ago, will resume its listing in the next 3 to 5 years, after paying off its debts and losing profits.

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< p > CEO Anders Kristiansen reiterated the expansion of eastern and Southeast Asian markets in the earnings report, and especially pointed out the "exciting" Russian and Chinese markets.

At present, New Look operates 20 stores in Russia through franchising.

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< p > yesterday, New Look also issued a statement that the group completed the renovation of its 100th stores and will be open today.

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Alistair McGeorge, chairman of the board of directors of P New Look Group Ltd., said that successful refinancing would give chief executive Anders Kristiansen and his team more space to complete international expansion.

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< p > another UK high street brand and Arcadia Group Ltd.'s Topshop opened today in the first store in Hongkong. Arcadia Group Ltd. boss Philip Green, who was interviewed by Bloomberg during the opening ceremony of Hongkong, said that she was looking for a store in Beijing and Shanghai with the real estate association's face: "if we find the right location, we will start preparations in second days."

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