Home / Knowledge / News / Apparel/Garments / Spanish Grupo Cortefiel to enter China market
Spanish Grupo Cortefiel to enter China market
06
Mar '12
Grupo Cortefiel is planning to expand in China by a deal with ScarVic. This opening plan marks the start of a strategic collaboration with ScarVic, a subsidiary of two companies: AVIC Trading, subsidiary of AVIC Group, one of the major state-owned companies in China, with more than half a million employees, and the international company, Scarborough Group.

Avic controls the listed department store chain Rainbow, in which Scarborough has an indirect interest. Rainbow has more than 50 centres and is one of the preemient retailers in China. ScarVic will be a strong pillar of support for Grupo Cortefiel in China, since it is a partner that already has experience in the retail sector.

ScarVic was created to promote international brand retailers to expand their businesses into China. ScarVic provides one-stop all-round services and co-investment availability to foreign retailers looking to break into the Chinese market.

The joint venture will allow Grupo Cortefiel to expand more readily and more quickly in a market as major as China and substantially increase the international business influence of a group which is already present in over 60 countries.

Grupo Cortefiel brands will mainly be sold in standalones and shop-in-shops located in shopping centres and department stores throughout China.

The growth of the middle class in China will soon transform the Asian giant into a market leader not only in the luxury sector but also in the fashion sector in general. Grupo Cortefiel's brands are adapting to this new Chinese fashion market and international luxury requirement with accessible prices for the new middle class.

Grupo Cortefiel

Must ReadView All

L-R Manish Singhai, COO, Peter England; Vinai Kumar Saxena, chairman, KVIC; Ashish Dikshit, business head, ABFRL and Anshu Sinha, CEO, KVIC while signing agreement. Courtesy: ABFRL

Textiles | On 24th May 2017

Aditya Birla & KVIC enter into a strategic partnership

Aditya Birla Fashion and Retail Ltd (ABFRL) and Khadi and Village...

Courtesy: Jabong

Apparel/Garments | On 24th May 2017

Jabong Mood Store redefines online shopping in India

Jabong, India's leading online fashion retailer, has launched the...

Textiles | On 24th May 2017

Starlinger unveils FX 8.0 circular loom for fabric making

Starlinger, a leading supplier of machinery for woven plastic...

Interviews View All

Poojaa Kumar Deepak
Zeven

Zeven's performance sports apparel is designed for the Indian body type,...

Frank Gossmann
Rotorcraft AG

‘RT3 motto is: Do not check millimetres, check colours.’

Nitin Bhatia
Trend Arrest

Setting up a brand for online selling is easy, but running the brand is not

Larry L Kinn
Suominen Corporation

Larry L Kinn, Senior Vice President - Operations Americas of Suominen...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Prathyusha Garimella
Prathyusha Garimella

Hyderabad-based designer <b>Prathyusha Garimella</b> is known for blending ...

Yash P. Kotak
Bombay Hemp Company

One of the directors of Bombay Hemp Company, Yash P. Kotak, speaks to...

Judy Frater
Somaiya Kala Vidya

Among the many honours showered on Frater, including Fulbright and Ford...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

news category


Related Categories:
May 2017

May 2017

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search