House of Fraser sale to Nanjing Xinjiekou completes Tuesday, 2nd September 2014
Yuan Yafei, chairman of Sanpower Group, the largest shareholder of Nanjing Cenbest, said he was “delighted” to complete the purchase of House of Fraser on Tuesday, adding: “It is an unprecedented transaction and the largest acquisition of a foreign retailer by a Chinese listed company."
House of Fraser buyer Nanjing Xinjiekou Department Store transfers funds for purchase Monday, 21st July 2014
It was announced on Friday that Nanjing Xinjiekou Department Store were to add $245 million to wholly-own subsidiary Cenbest – in order to pay for its 89 per cent of Highland Group Holdings of England as well as other overseas acquisitions.
Retail chiefs failing to recognise importance of e-commerce Monday, 16th June 2014
A new study from PricewaterhouseCoopers finds only 22 per cent of the chief executives it interviewed believed improving their website and online offering would have a direct impact on their business.
Tesco strikes up deal with House of Fraser to sell products online Monday, 2nd June 2014
Tesco has paired up with House of Fraser to sell the department store’s products through the Tesco Direct website as it looks to expand its online offering and counteract falling sales.
House of Fraser to expand into Russia and Abu Dhabi Tuesday, 6th May 2014
House of Fraser has wasted little time setting out expansion plans following its recent takeover by Chinese business tycoon Yuan Yafei.
House of Fraser reveals record profits ahead of Sanpower takeover Wednesday, 16th April 2014
A surge in online sales helped House of Fraser reach record gross profits last year, as the department store retailer prepares for its sale to China’s Sanpower.
House of Fraser could open up to 50 stores in China after Sanpower sale Monday, 14th April 2014
House of Fraser could open as many as 50 stores in China following its sale to Chinese conglomerate Sanpower.
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