Your browser is no longer supported. For the best experience of this website, please upgrade to a newer version or another browser.

Your browser appears to have cookies disabled. For the best experience of this website, please enable cookies in your browser

We'll assume we have your consent to use cookies, for example so you won't need to log in each time you visit our site.
Learn more

Chinese retailer Bosideng pulls out of UK citing Brexit uncertainty

Chinese retailer Bosideng has pulled out of the UK market, citing Brexit uncertainty. The retailer’s first overseas flagship store at 28 South Molton Street closed last month, while its UK website has a note asking customers to visit in store.

Bosideng – operating around 10,000 stores and one of the largest clothing operations in Greater China – ploughed £30m into its first and only UK store on South Molton Street in London, which opened in September 2012. It was originally hoped that this would be the launchpad for further European operations.

A spokeswoman for the company said it purchased the property in 2011, when the UK property market was low after the financial crisis.

“After a few years of operation, the flagship store has provided us tremendous overseas retail operation experiences, and enhanced our brand name among overseas retail market and financial community.

“Yet, given the uncertainty of the UK market after Brexit, and considering the investment return, our company decided to rent out the property instead,” she said. “We will return to the UK retail market when we see fit.”

The next tenant is not yet known.

Read an interview with Bosideng’s founder here.

 

 

Have your say

You must sign in to make a comment

Please remember that the submission of any material is governed by our Terms and Conditions and by submitting material you confirm your agreement to these Terms and Conditions. Links may be included in your comments but HTML is not permitted.