House of Fraser has wasted little time setting out expansion plans following its recent takeover by Chinese business tycoon Yuan Yafei.
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 as many as 50 stores in China following its sale to Chinese conglomerate Sanpower.
Sports Direct founder Mike Ashley surprised the industry once more last night with an unexpected sale of shares worth more than £200 million of his sports business.
Multimillionaire and former Chinese government official Yuan Yafei is reportedly in talks with House of Fraser over a bid for the company that would value the retailer at more than £450 million.
House of Fraser on Monday unveiled a new partnership with The Great Retail Revival, as it launches a new competition to offer up-and-coming brands the opportunity to trade at its prestigious Oxford Street flagship store this summer.
Kinky Knickers, the underwear maker once elevated by retail expert Mary Portas, has been bought out of administration just one month after falling into trouble. Headen and Quarmby, the company behind the range, said that it intends to restart production as soon as possible.
Premium department store chain House of Fraser has launched a bevy of ‘shop in shop’ spaces for Scandinavian chain Norr, with new stores now in Manchester, Birmingham, Glasgow and Guildford as well as online.
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