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Burberry to acquire China business properties
A number of business properties in China will be acquired by British company Burberry, it has emerged.
The textiles company announced it will take on commercial properties and assets that are currently run by franchisees in china.
Chief executive officer Angela Ahrendts said: "The acquisition of Burberry's store operations in mainland China will allow us to further leverage our proven brand and business strategies in this high growth luxury region."
Some 50 stores are held across 30 cities, which makes it an ideal time to integrate the country's operations with Burberry, she continued.
Furthermore, the organisation plans to open a range of new commercial properties in China and "reinforce" the British brand.
Burberry recently revealed its first quarter trading update, stating total revenue had risen by 24% and retail sales were up by 16%.
The publication noted digital initiatives played a role in increasing awareness in the brand and promoting transactions.
Posted by Sarah Smith
The textiles company announced it will take on commercial properties and assets that are currently run by franchisees in china.
Chief executive officer Angela Ahrendts said: "The acquisition of Burberry's store operations in mainland China will allow us to further leverage our proven brand and business strategies in this high growth luxury region."
Some 50 stores are held across 30 cities, which makes it an ideal time to integrate the country's operations with Burberry, she continued.
Furthermore, the organisation plans to open a range of new commercial properties in China and "reinforce" the British brand.
Burberry recently revealed its first quarter trading update, stating total revenue had risen by 24% and retail sales were up by 16%.
The publication noted digital initiatives played a role in increasing awareness in the brand and promoting transactions.
Posted by Sarah Smith
Fri, 16th Jul 2010