The Brand Of Women'S Shoes Takes Over The House Of Fraser Ambition Of High-End Department Stores In Britain.

Shoes that do not want to be high-end department stores are not good toy stores.

According to the "women's Wear Daily" news, recently, China

Retailer C banner signed a memorandum of understanding with Nanjing Xinjiekou department store Limited by Share Ltd (hereinafter referred to as Nanjing new hundred) to strengthen cooperation to facilitate Nanjing's new 100 billion asset reorganization and open the door of cooperation with the acquisition of House of Fraser 51% of the new high-end department store in Nanjing.

Nanjing Xin Bai announced in May 2nd that the paction price was 1 billion 800 million yuan. After the equity pfer was completed, the company would increase its capital to House of Fraser Group by about 624 million yuan.

After the capital increase, it will hold House of Fraser Group 51% stake, and Nanjing Xin Bai will no longer hold the control rights of House of Fraser Group.

The deal is expected to be completed by the end of June. House of Fraser said in May 2nd that it would voluntarily close some shops through the bankruptcy agreement, and the restructuring of the stores will be completed early next year.

Founded in 1849, House of Fraser is the oldest and most high-end department store in the UK. Currently, there are 59 stores in the UK, Ireland, UAE and China, with annual sales of 1 billion 300 million.

In 2014, Nanjing Sanbai group, a listed company in China, acquired 89% of its shares with 450 million pounds, and the remaining stake was controlled by Sports Direct International Plc, the British clothing retail giant.

House of Fraser has been looking for external financing in recent years to get through the profit gap, thanks to strong electricity supplier shocks, sluggish holiday consumption and variable exchange rates.

In February of this year, House of Fraser sought debt financing from investment bank Rothschild.

At the end of March, the Sanmen group also planned to inject 15 million pounds of money into it to get out of the difficulty.

At present, the annual performance report should be postponed.

Prior to its acquisition, the company said that the acquisition of House of Fraser is an important step in the implementation of the global brand strategy, which can further strengthen the retail sales in China.

And lay the foundation for the blueprint for the development of overseas brands.

In addition, this paction will promote the coordinated development of department store business and the existing shoe and toy retail business.

It can be seen that as a shoe brand, the ambition of thousands of degrees is more than that.

The main business of the company is

It has four private brands, namely, 1000 degrees, Iraqi partners, sun dance and Mio, and has five authorized brands including ASH, JC, United Nude and French Connection.

In October 2015, it bought the old British toy chain brand Hamm Reis (Hamleys) at a price of 100 million pounds (at that time exchange rate of about 980 million yuan).

Chen Yixi, chairman of the group, said in an interview with the interface that he wanted to strengthen the influence and competitiveness of the company in the terminal with the help of a more influential retailer like Hamm Reis.

Hamm Reis took this opportunity to enter China, and opened flagship stores in Nanjing, Xinjiekou, Xuzhou Sanmen International Plaza and Beijing Wangfujing in October 2016, September 2017 and December 2017 respectively.

The Frank Slevin, chairman of House of Fraser, said that the British retail industry was suffering from an earthquake like turbulence and that department stores needed to streamline their business to adapt.

The rapid change of consumers.

"In the future, House of Fraser will open the right store in the right place with the right store area, and the investment will make us more confident."