New Look to close
Source: Agencies |
00:01 UTC+8 October 19, 2018
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Print Edition
Print Edition
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鈥檚 Shanghai head office will close in the new year. 鈥淒espite 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,鈥 the retailer said.
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