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Business

Sanpower Group reveals new strategy as it brings luxury specialist Guy Salter on board

London - Sanpower Group, the Chinese giant which is currently selling part of its majority stake in British department store chain House of Fraser, has restructured its business in order to accelerate its global brand building strategy. As part of its restructuring, Sanpower has appointed luxury retail specialist Guy Salter OBE as co-chairman of...

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Business|UPDATE Featured

House of Fraser confirms Hamleys owner is set to acquire 51 percent stake in group

London - Nanjing Cenbest, the parent company of House of Fraser Group Ltd. has confirmed that C.banner International, the Chinese owner of Hamleys iconic toy store chain, is set to acquire a 51 percent stake in department store group. The move sees C.banner becoming the majority shareholder of House of Fraser, with Nanjing Cenbest, part of the...

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Business

Hamleys owner reportedly in talks to acquire stake in House of Fraser

London - C.banner International, the Chinese owner of Hamleys Toy chain, is said to be in discussion to acquire a stake in department store group House of Fraser according to a report. A statement released onto the Hong Kong Stock Exchange on April 24 said that C.banner entered into a memorandum of understanding with Nanjing Xinjiekou Department...

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BusinessFeatured

​Sanpower to introduce premium Chinese brands to Europe via HoF

London - Sanpower Group, the Chinese owner of British department store chain House of Fraser, has announced the launch of a new supply chain programme, designed to create a gateway for premium Chinese brands to gain access to the UK and EU market through House of Fraser. The new initiative, which aims to further strengthen House of Fraser's...

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Business|UPDATE

House of Fraser says its “business as usual” as Chinese owner prepares to sell stake

London - House of Fraser has confirmed that Nanjing Xinjiekou Department Store Co. in advances discussions to offload a large chunk of its 89 percent stake to another Chinese firm. However, the struggling department store chain stresses the sale will not affect its operations as it is “business as usual.” On Tuesday morning a Chinese stock...

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BusinessFeatured

House of Fraser's Chinese owner set to sell stake in troubled department store chain

London - Things are not looking good for House of Fraser. Weeks after reports emerged that the deparment store hired investment bank Rothschild to look are refinancing its debt packages comes news that Nanjing Xinjiekou Department Store co ltd., HoF's Chinese owner, is looking to sell its majority stake in the struggling department store chain....

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Business

House of Fraser boss calls for Brexit transparency

London - Yuan Yafei, the chairman of Sanpower Group and owner of House of Fraser, is calling on Prime Minister Theresa May to give a "definite signal" concerning what type of Brexit deal the government wants to make. As May is set to visit China this week, the billionaire department store owner, revealed to the BBC at HoF's flagship store in...

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RetailFeatured

House of Fraser opens debut store in China

House of Fraser has officially opened its first store in China today. Located in the Sanpower Plaza, in Nanjing, the debut Chinese store sees the department store group execute the first stage of its international expansion scheme following its taken over by conglomerate Sanpower Group in 2014. The first Chinese House of Fraser store aims to...

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Design

Mike Ashley holds onto HoF stake as Nanjing Xinjiekou completes acquisition

Nanjing Xinjiekou, Chinese department store and subsidiary of Sanpower Group,has completed its deal to acquire 89 percent of Highland Group Holdings, the parent company of House of Fraser (HoF), as Mike Ashley, owner of Sports Direct retains his 11 percent stake in HoF. ​The agreement values the group at 480 million pounds, 30 million more than...

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Design

Don McCarthy may exit HoF as early as July

Don McCarthy, chairman of House of Fraser who revealed earlier this week that he will be leaving his current role once HoF's sale to Sanpower Group is done, may be leaving the department store chain as soon as July. He is set to stay with the company until completion of the deal with Sanpower Group, which is predicted to be finalized within the...

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Design

Sanpower confirms deal with House of Fraser

The deal between House of Fraser and Chinese conglomerate Sanpower Group has been officially confirmed. Nanjing Xinjiekou, one of China's oldest department stores owed by Sanpower, issued a statement to the Shanghai Stock exchange Tuesday confirming news that the Group had ended discussions to purchase 89 percent of British department store...

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