The agreement for the launch of women’secret in this Far East giant was signed with The Basichouse (Shanghai) Co., ltd and includes the undertaking to open more than 300 stores and corners over the next five years.
Grupo Cortefiel’s new Chinese partner has consolidated and long-standing experience in the Asian retail sector, where it has been operating since 2000 under four fashion brands: Basic House, Mind Bridge, Voll and The Class. It currently has a sales network of more than 1,500 stores and corners in South Korea, China, Hong Kong, Russia, Saudi Arabia, Kuwait and Armenia.
This alliance will smooth Grupo Cortefiel’s rapid expansion in several key markets including China, enabling it to further consolidate its international corporate position, backed by its presence in more than 60 countries.
The retail formats for the Grupo Cortefiel brands will be centred mainly on individual stores and shop in shops situated in department stores throughout the country.
This agreement is the latest move in Grupo Cortefiel’s international strategy to considerably increase its presence on large key markets, as part of its mid-term objective of positioning 50% of its total sales in international markets.
| On 8th May 2021
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