Quiz plans to enter the Chinese market in a bid to power up its overseas sales growth, Retail Week can reveal.
The recently floated retailer already runs franchised stores in the Middle East and opened its first owned stores in Spain last year.
Chief commercial officer Sheraz Ramzan said: “There’s a lot of momentum in the business at the moment.
“We are currently trading in Singapore and are searching for new partners in Malaysia and in regions such as Indonesia and the Philippines. We are also looking at China. There’s a number of opportunities there, either through department stores or franchise. I am sure that online will be a significant part of the plan when we launch there.”
The plan to enter the Chinese market is in early stages. Ramzan said that the retailer had no “concrete option” for launching in the country but discounted launching through House of Fraser, which sells its clothes in the UK and has a flagship in Nanjing, near Shanghai.
He added that Quiz had further franchised stores planned in the Middle East, with the region performing strongly despite a tough consumer market.
Quiz posted a leap in full-year sales today. The omnichannel fast fashion operator revealed year-on-year sales growth of 30% for the year to March 31.
Online and international performance led the way, as ecommerce sales surged 158% to £30.6m and overseas revenues jumped 32% to £21.2m. Revenues from Quiz’s UK stores and concessions rose 12% over the year to £64.6m.