Hong Kong-based brand operator and distributor ImagineX and British fashion designer Paul Smith have reached an exclusive distribution agreement to open the first Paul Smith flagship store in China, and the two parties will develop at least 24 specialty stores in the marketplace over the next five years.
The cooperation will be formally effective from July 1, 2012. ImagineX plans to open the first Paul Smith flagship store in Shanghai in December 2012.
Located in Shanghai Kerry Center, the new Paul Smith flagship store will have an operating area of about 465 square meters. With a two-level structure, the new store will sell various men's and women's apparel series under the Paul Smith brand.
According to Sir Paul Smith, designer for the brand, they have prepared for a long time for the entry into the Chinese mainland market and finding the right partner is a key decision. The opening of the flagship store in Shanghai will mark a major step and will provide a good opportunity to display their products. They hope that the Chinese market will become a major market for the brand in the future.
Starting from July 2012, ImagineX will also manage the five existing Paul Smith specialty stores in Hong Kong and make a further plan for the brand's business expansion and market development in China.
Apart from the Shanghai flagship store, ImagineX and Paul Smith expect to open six new specialty stores in Chinese cities, including Beijing, Tianjin, Shanghai, and Chengdu, before the end of 2013