Yuan Yafei, the chairman of Sanpower, plans to bring House of Fraser to Russia and the Middle East following his company’s takeover of the UK department store last month – the largest foreign retail deal to date by a Chinese buyer.
The Chinese tycoon said he would open a flagship “Oriental Fraser” store in Nanjing next year, four franchise stores in Russia and two in Abu Dhabi over the next two to three years.
When Sanpower, a retail-to-property group, bought 89 per cent of House of Fraser, it marked the latest example of a Chinese company seeking a global foothold. Chinese retailers are hoping to target both non-Chinese consumers and the rapidly growing number of Chinese tourists going overseas.
您已阅读38%（703字），剩余62%（1154字）包含更多重要信息，订阅以继续探索完整内容，并享受更多专属服务。