While there is talk of slowing consumption in China, another European brand has announced it will expand in China.
Italian casual chic knitwear brand Stefanel SpA has given Chinese fashion retailer Carnival International exclusive distribution rights for Stefanel clothing and accessories in China and Taiwan for five years.
“The Chinese market has enormous potential and it’s crucial to be present there,” said Stefanel president Giuseppe Stefanel. He went on to say that the right local partner is crucial.
Stefanel has four stores in China and will add 50 new boutiques in shopping malls and department stores that showcase its products in “fresh, innovative” ways.
Stefanel will open stores in Beijing, Shenyang and Chengdu by spring 2012. The company is already in Japan, South Korea and Hong Kong. Its Hong Kong store has experienced stellar sales growth, up 38 percent in the past year.
Since 2009, Stefanel has been on a rebranding campaign focusing on eco-friendly and ethically sourced products and materials.
photo credit: stefanel