Paul Smith plans Chinese expansionTuesday, 15 May 2012
This will be the designer’s second time attempting to crack China, five years ago the company retreated after suffering large losses, but this time they are hoping to ride the growing fashion market in China, which is expected to triple over the next eight years, and use the growing popularity of British brands in the region.
In an interview with Bloomberg, Balbina Wong, CEO of the ImanineX Group, Paul Smith’s Chinese distributor said: "This is the right time to join the race. Chinese consumers are becoming more sophisticated and brand- conscious. China’s overall GDP may slow, but the middle-class is growing.”
ImagineX is a brand management and distribution company that represents about 20 international brands and operates 450 points of sale in more than 50 cities in Asia, according to its website. Paul Smith has a number of other stores in the region including in Japan, Hong Kong, South Korea, and recently opened his first standalone store in Australia, the Shanghai opening is expected in December.
Image: Paul Smith