Clothing firm Candy has chalked out an ambitious plan of expansion in China, which includes establishments of 24 retail units within next four years. Coruña, Inveravante, a firm supervised by the corporation of businessman Manuel Jove, has closed a master franchise contract with Global Franchise Bran (GFB).
Under this agreement, GFB that specialises in brand marketing in China received an exclusive license to grant franchises to Candy in China during the said period. The company is operational since 1992 and has an exhibition centre spread over an area of 280,000 square metres in Shanghai with the annual turnover of 1,700 million euro employing 2,000 people.
Through a franchise establishment in Wenzhou, Candy started its operations in China ten years ago, and now it is available in multi-brand shops of foreign countries. Under the recent agreement signed with GFB, Coruña will set up its first ever and two in number, its flagship units, in Shanghai and Beijing with more 22 stores in various locations of the country.
Coruña has already taken steps towards acquiring foothold in Hong Kong and Japan, and is now marching forward to reinforce its bid in to the Asian market.
ALCHEMPro News Desk - India
marketing@alchempro.com
