Nanjing New Hundred Announcement: Negotiate The Old British Department Store House Of Fraser

< p > Nanjing Xin Bai announced today that it is negotiating to buy about 89% a href= "//www.sjfzxm.com/news/index_c.asp" of the acquisition of Highland Group Holdings Limited in the United Kingdom.

Highland Group is a department store group in the United Kingdom, and its House of Fraser (Fraser) department store brand has a history of over 164 years.

However, the announcement did not disclose the specific paction amount.

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< p > in December last year, the French Lord of Buddha planned to buy House of Fraser. The latter asked for a price of 450 million, but eventually the negotiations failed.

It is said that the cooperation with China should be a huge potential market, as well as financial support.

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< p > announcement shows that in April 2nd, Nanjing Xin Bai had convened the board of directors to consider the adoption of a cash acquisition of about 89% stake in Highland Group.

At 5 p.m. local time on April 3rd (1 a.m. Beijing time April 4th), the two sides held a signing ceremony at Fraser headquarters, 27 Beck street, London.

The announcement said the company plans to set up a wholly owned subsidiary in the UK as the main body of the purchase, and will pay cash to complete the purchase by way of its own capital and debt financing.

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< p > Highland Group is the oldest British Royal licensed "a href=" //www.sjfzxm.com/news/index_c.asp "department store" /a "chain, which sells three kinds of products, including private brand, purchasing brand and special brand. The category mainly covers a href=" //www.sjfzxm.com/news/index_c.asp "> men's wear > women's wear, women's wear, children's wear, beauty, fashion accessories and home accessories, etc. the supplier covers all kinds of famous international brands, including, and so on.

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< p > in its special brand, the top 15 enterprises are all over ten years' business partners.

In addition, House of Fraser owns many private brands, such as Howick, Dickins & Jones, Linea.

House of Fraser opened 59 stores in the UK, opened 1 stores in Ireland, and opened 1 franchises in the Middle East city of Abu Dhabi, with a total sales area of more than 4 million 900 thousand square feet.

In terms of turnover, it ranks fourth in the UK.

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Yuan Yafei, chairman of Nanjing Sanbai group, P, said that he will take this opportunity to achieve a major pformation from traditional department stores to modern department stores.

"After we bought it, new hundred can learn it, it has its own brand, and only about 40% is joint venture (brand).

Our one hundred percent department stores in China are all joint ventures (brands), and it is very difficult to compete again. This is very beneficial to the new hundred, and second is also good for Fraser himself.

The growth of the UK market is very slow and the market is limited.

I introduced it to China, and I thought about it all. We set up shop all over the country.

So today, because of this, Fraser's shareholders and management are very confident of us. "

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< p > in addition to the introduction of the buyer system, Nanjing Xin Bai can also learn from Fraser's experience of electricity supplier directly.

House of Fraser has set up a unified online sales platform HouseofFraser.com for global consumers. It promotes customers' shopping experience through many ways, such as online orders, mail orders, online shopping orders, etc., and online sales account for more than 30% of the company's total revenue.

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