Chinese outerwear brand Bosideng exits UK due to uncertainty
Chinese clothing brand Bosideng has quietly closed down its flagship store in London and shuttered its UK e-commerce site after having considered the economic uncertainty in the country following the Brexit vote.
The six-storey store on South Molton Street opened in 2012 to coincide with the London Olympics. It was the brand’s first overseas flagship store and was expected to be the template for a major international expansion push.
Bosideng, known for its down-filled jackets, established itself in Europe with a more upmarket proposition and was planning to open stores in New York and elsewhere across the US. But the brand, which has more than 10,000 retail stores in China, struggled to make a name for itself outside of China.
The label said the London property where the flagship store used to be has been rented out temporarily, and that it may consider entering the British market again “when the business environment is favourable”.
It acquired the unit on South Molton Street in 2011.
“The group plans to step up the effort to unify its brand image in both the domestic and overseas markets. It will also carry out brand innovation and improve the quality of service at its stores,” said chairman and CEO Gao Dekang.
He added that the business plans to open “more fashionable stores” to enhance shopping experience at home and abroad. “We hope to enter the British market again by opening a store with a new image in the near future.”
Bosideng is still available in Germany and Italy.
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