Stella McCartney has designs on China expansion
British fashion house plans to open more stores across the mainland and in HK and Taipei to cash in on consumer appetite for luxury goods
British fashion house Stella McCartney will step up its retail development across China, following the lead of its stablemates under luxury goods conglomerate Kering.
Frederick Lukoff, the president and chief executive of Stella McCartney, said the company expected to head west and set up shop in Chengdu, the capital of Sichuan province, after launching its flagship store in Beijing last week.
The company, which opened its first mainland shop in Shanghai in August last year, will soon launch a second store in that city. It will also open a second shop in Hong Kong and its first retail establishment in Taipei.
"We're looking at the whole market, and we've got room to grow," Lukoff told the South China Morning Post. "We are still negotiating in terms of location at other [mainland] cities."
He declined to provide investment targets but credited Kering's expertise with the brand's push into China.
With its new Beijing flagship, Stella McCartney now has 25 free-standing stores around the world. "The group has helped us very much in all the different aspects of doing business in China, including logistics, importing, labelling and real estate," Lukoff said.
London-based designer Stella McCartney, the daughter of former Beatle Paul McCartney, founded her eponymous brand as a 50-50 joint venture in 2001 with French group Kering, previously known as Pinault-Printemps-Redoute and PPR.