Bosideng International Holdings Limited, the largest down Apparel Company in China, announced that it has acquired a property at 28 South Molton Street near the Oxford Street shopping area in the West End of London at a consideration of HK$240 million.
The property will be turned into the Group’s down apparel and menswear flagship store and its headquarters in Europe. This will be the first overseas down apparel and menswear flagship store of Bosideng which marks an important move of the Group’s expansion in the UK market.
Based on its plan, the Group will invest approximately £5 million to £6 million to reconstruct the property into a landmark building. A down apparel and menswear flagship store will be opened on the ground floor. This is the Group’s first flagship store in Europe, through which the Group plans to enhance brand popularity and reputation.
The Group also plans to promote its brand image through wall mounted advertisements by making use of the prime location and high pedestrian flow nearby. The remaining floors will be used as the Group’s headquarters in Europe.
The 6-storey building is located at the core area of the West End of London, the most prosperous commercial district of London and also the largest commercial district in Europe. The building also neighbors on Oxford Street, the major shopping area in the UK attracting over 30 million tourists per year.
The building is only 20 meters away from the Bond Street exit of the London Underground with a traffic flow of 24 million per year and opposite to the Bond Street Station of Cross Rail.
Mr. Gao Dekang, Chairman and CEO of Bosideng, said the acquisition of the property is an important move by Bosideng in its expansion into the international market and development into a world famous brand.
The Group expects to invest a total of HK$300 million for the acquisition of the property and flagship store opening. The down apparel and menswear flagship store is expected to open in July 2012, said Dekang.
Apart from being the leading down apparel brand in China, the Group has also successfully transformed into an integrated brand operator through acquisition, capital increase and direct investment in menswear, ladies wear and children’s wear projects.
As the Group’s first down apparel and menswear flagship store opens in the core area of London, the Group will further expand its overseas business and fuel the growth with new drivers, turning Bosideng into a world famous brand, Dekang reiterated.
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