Chinese apparel group Baoxiniao has announced plans to open about 100 new specialty stores in 2009.
The company announced the plan during its 2008 annual general meeting and it was revealed that Baoxiniao will invest CNY107.94 million to build its chain marketing network in 2009. Under the company's principle of prudence in opening new stores, it will limit the growth rate of its business suit specialty stores to about 7%. For fashion brand specialty stores, after the closure of poorly-performing stores, the total number of new stores will be around 100.
Zhou Xinzhong, the chairman of Baoxiniao Group, told local media that in 2009, its headquarters will start to build a modern distribution center and the company will select sites nationwide to open its specialty stores. It will develop at least as many sites in 2009 as it did in 2008.
Founded in 1996, Baoxiniao Group is a group that combines industrial management and capital management, and is involved in designing, producing and selling up market garments and acting as agent for international brands. The company currently operates apparel brands such as Saint Angelo, S. Angelo, and Bono.