New Look Intends To Set Up 70 Stores In China

NewLook currently has 569 stores in the UK market, and more than 800 stores in 21.

China's Fosun international has joined CDH investment and CITIC Capital for talks in recent weeks with the acquisition of NewLook group and its major shareholder ApaxPartnersLLP and PermiraAdvisersLLP.

China is an overseas market that NewLook focuses on. The brand plans to deploy 70 Chinese stores before the end of the next fiscal year to make China a group. Second big markets (calculated by number of stores). At present, the brand has online stores on the Tmall mall platform of Alibaba, and has opened 18 stores. The group ended Russia and Ukraine business 。

11 years ago, private equity funds ApaxPartnersLLP and PermiraAdvisersLLP combined. NewLook GroupLtd. founder TomSingh has privatized the group at 800 million pounds, two private Holdings Company occupy NewLook30.1% stake, while TomSingh and group management retain 23.3% and 13.4% shares respectively. The group planned to return to the open market in 2010, and was later cancelled by the turmoil in the financial market. Currently, the market value of NewLook is up to 2 billion pounds.

In the first nine months ended December 27th, the group's core profit was 192 million 600 thousand pounds, an annual increase of 3.4% and net debt of 1 billion pounds.

The three quarter results released by NewLookGroupInc. in early February showed that the group's revenue fell by 1.6% to 399 million 900 thousand pounds in the three quarter of 2014. The group attributed the decline in sales to the unusual warm weather in autumn, which dragged down the performance of most European apparel retailers during the quarter. Same store sales fell by 1.7%, of which 1% in the same store sales in the UK, while 28.6% in e-commerce sales. Core earnings decreased by 2.7% to 76 million 800 thousand pounds.