Fashion retailer C&A is selling its Chinese branch to a local investor, who says the possibilities on the huge Chinese market are enormous.
Need for local expertise
C&A China has been bought by Beijing Zhongke Tongrong for an unnamed amount: a move which the Chinese investment fund hopes will accelerate growth on the Chinese market – especially as more and more cities are starting to reopen after Covid lockowns. The new owner says that the increasing urbanisation and adoption of fashion trends by the Chinese public offer huge possibilities – especially when combined with his own local expertise.
Director Duan Xuefeng of C&A China’s new owner Zhongke Tongrong says that he sees an exciting opportunity to further stimulate its local expansion, by scaling up sustainable practices and stimulationg local expansion. C&A, active in China since 2007, is one of the world’s biggest buyers of sustainable cotton.
