New Look ready to open own stores in China

After its search for a partner last year, New Look is now going to enter the Chinese market on its own, according to a report in the Financial Times. The British retailer will rely on the expertise of Anders Kristiansen, its new CEO since January, to open its first stores in spring 2014. Anders Kristiansen was previously CEO of Bestseller Fashion Group China.

New Look wants to open its first store in China, like the one pictured here in Cardiff, Wales (photo: New Look)

New Look seems to have plans for 5 to 10 store openings in major cities, including Shanghai and Beijing, with an investment of 11 to 23 million euros. Anders Kristiansen believes that consumers are “keen for the latest fashion at a good price and a western brand with a British heritage.”

The retail chain is also looking into the possibility of entering the Indian market through a joint venture.

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