Chinese retailer Bosideng is set to reopen its flagship store at 28 South Molton Street, as it underlines its commitment to the UK market.
The retailer closed its store in January 2017, citing Brexit uncertainty.
However, Hattie Chen, head of investor relations for the company, told Drapers that the company is now working on reopening the flagship over the next couple of months to “showcase our dedication to the UK market”. She said the firm recognises that “London is an international centre of fashion”.
Bosideng – which operates around 10,000 stores and is 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 launch pad for further European operations.
In 2017, a spokeswoman for the company said it purchased the property in 2011, when the UK property market was low after the financial crisis.
At the time she added: “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.”