Retail in Asia

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UK’s Paul Smith plans China comeback

In 2007, British fashion brand Paul Smith tried and failed to crack into the Chinese luxury market. After he retreated, Sir Paul called the Chinese market "extremely dangerous" due to high rents and customers who didn’t understand Western fashion trends.  Now, Paul Smith is trying it again, this time partnering with Hong Kong-based ImagineX to open a 5,000 square foot flagship store in Shanghai.

Torsten Stocker, partner at strategy consulting firm Monitor Group, said Paul Smith should also fare better in China now because of changes in taste. Chinese consumers have been exposed to different brands through the internet and travel, for example, and increasingly want to express their individuality, he said.

(Source: red luxury)