Bosideng to exit UK market, close London store
Chinese label Bosideng is to exit the UK market after operating for just four years. The company opened a flagship store on South Molton street in 2012, a property its parent company purchased in 2011. The store has now been closed.
At the time of opening Bosideng operated over 10,000 stores in its home country, but was virtually unknown outside of China. Many were wary of the brand's London launch, with critics wondering if it would adopt a different strategy in the UK.
At the time the brand's UK chief executive Wayne Zhu said, “A move into Europe has been a goal of Bosideng for some time, and we’re very excited to be launching in such a prominent location in London.”
But the unknown brand failed to make its mark on the British shopping public, despite the company stating in 2013 that it's store opening was a success.
In addition to closing its store, Bosideng has shuttered its e-commerce operations in the UK, stating an uncertain future concerning Brexit as a cause. Given the uncertainty of the UK market after Brexit, a spokesperson told Drapers the lack of return of investment led the company to decide to rent the property. "We will return to the retail market in the UK, when we see fit."