New Look Seeks China Riches With Plan for Hundreds of Stores
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New Look Group Ltd., a closely held budget fashion retailer, plans to open “hundreds” of stores in China as it joins competitors such as Hennes & Mauritz AB that are tapping into growth in the world’s most populous nation.
The U.K.-based company will open its first Chinese store in March 2014 and aims to have 20 outlets there within a year, Chief Executive Officer Anders Kristiansen said today on a conference call as he reported a gain in full-year earnings.