French Connection, a UK-based fashion retailer, opened its first flagship store in Hong Kong Saturday.
The new 310-square-meter store is a joint venture between French Connection Group and Hong Kong-based I.T. Ltd.
Invest HK's Associate Director-General of Investment Promotion Simon Galpin welcomed the new retailer, saying this investment reinforces Hong Kong's reputation as Asia's leading fashion center and style capital.
"Hong Kong is a great place for retailers to build brand awareness. With increasing tourist flows from the Mainland, local stores can showcase their products to this particular customer group. This will make it easier for overseas firms to enter the China market," said Simon.
French Connection Group's Chairman and CEO Stephen Marks said the group plans to open three to four additional stores in Hong Kong within the next two years, and is working through its joint-venture partner to explore opportunities in the Mainland.
French Connection Group plc is an international fashion retailer and wholesaler operating in the UK, Europe, North America, the Middle East, Asia and Australia. It sells through 150 wholly-owned retail outlets, franchised and licensed stores as well as more than 1,000 department stores and independent retailers.
According to an official report, by June 2, there were 966 regional headquarters and 2,241 regional offices in Hong Kong. Despite the outbreak of Severe Acute Respiratory Syndrome (SARS) and the difficult economic situation regionally and internationally, the number of regional headquarters in Hong Kong reached an all-time high, said the report.
(Xinhua News Agency November 10, 2003)
