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October 19, 2018

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New Look to close

British fashion group New Look is to exit China and will close its 120 stores by the end of the year, it said yesterday. New Look, which is owned by South African investment firm Brait, trades as New Look Commerce (Shanghai) Co in China. It said the company’s Shanghai head office will close in the new year. “Despite substantial investments in China in recent years, performance has been below expectations and this business has not achieved the necessary sales and profitability to support the significant future investment required to continue these operations,” the retailer said.


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