Greenwoods Menswear is set to open 100 stores in the UK after investment from Chinese retailer and manufacturer Bosideng International.
Bosideng has agreed to buy a 50 per cent stake in Greenwood’s parent company Hanson Partners and invest money for the retail roll out over a five year period.
The stores will be opened under the Bosideng fascia over the next five years, with the first 20 stores to be opened by August 2009.
The cost of the store roll out will be over£25 million and create 600 jobs.
Bosideng chairman Gao Dekang said: “We are delighted with the results and the efforts of Hanson and believe that this co-operation with Hanson Partners’ subsidiary company, Greenwoods Menswear, will be extremely successful.”
Bosideng has over 8,000 stores in China with a turnover of circa 26 billion Yuan (£2.15bn). It is listed on the Honk Kong stock exchange.
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