British Brand Ends 20-Year Partnership With Kwok Hang Holdings
Burberry hopes to have over 100 franchises in China within the next five years
The Guardian reports today that Burberry has bought out its Chinese trading partner, Kwok Hang Holdings, for £70 million (US$107.65 million) as part of the brand’s restructuring efforts. According to the article, Burberry is looking to keep a tight grip on its image as the company pursues even faster growth in “high-growth luxury regions” like China. The company plans to open 10 new stores throughout China this year and — as Jing Daily noted late last year — hopes to double its mainland locations by 2012, so an intensive image unification campaign looks to be a smart strategic move to ensure a consistent brand experience going forward. From the Guardian: