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Greenwoods agrees deal to roll out Bosideng in UK

Classic menswear chain Greenwoods plans to open up to 100 UK stores under the Bosideng fascia after Chinese clothing giant Bosideng International agreed to buy a 50% stake in the company.

Lincoln-based Greenwoods plans to open the stores over the next five years in a £25 million roll-out.

The openings follow the launch of two trial shops in Bury St Edmunds in Suffolk and Lincoln in August, and a further 20 will open by August next year.

The Bosideng stores sell own-label classic men’s formalwear, casualwear and also provide a hire service.

Greenwoods’ parent company Hanson Partners has drafted in former Moss Bros board director and Cecil Gee founding family member Roland Gee as a non-executive director to help oversee development of the Bosideng chain.

Greenwoods chairman John Hanson said the deal had come about following a long-standing relationship with the Gao family, which owns Bosideng.
He said: “The quality of the product is excellent and development of new product is coming on strongly. The calibre of the staff and commitment to this project are second to none.”

Bosideng, a Chinese manufacturer and retailer, has 8,000 stores worldwide and an annual turnover of 26 billion yuan (£2.2bn). The deal will complete in early April next year.

John Hanson was among the suitors bidding for menswear group Moss Bros earlier this year before pulling out of a deal.

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