Sogo mum or dad plans retailer revamps
In this article (4)
Way of life Worldwide Holdings, the dad or mum of the Sogo division retailer in Hong Kong’s Causeway Bay, says it’s planning renovations and new department shops.
Whereas it has not specified the place the revamps are deliberate, it’s probably to be in mainland China the place it at present has 4 shops.
Way of life has secured US$300 million by means of the difficulty of 10 yr bonds which shall be used to repay financial institution financing and fund capital spending “referring to retailer renovation and new division retailer tasks sooner or later”.
Hong Kong listed Way of life Worldwide has two Sogo shops in Hong Kong – the flagship in Causeway Bay near Occasions Sq., and one in Tsim Sha Tsui which was relocated and reopened late final yr.
In mainland China, the corporate operates shops underneath the Jiuguang model. The Shanghai retailer was first established in 2004 with an analogous enterprise format to Sogo Causeway Bay. Additional shops opened in January and Might 2009 at Suzhou and Dalian
Shenyang Jiuguang, Way of life’s fourth Jiuguang Retailer in mainland China, accomplished its first full buying and selling yr in 2014.
The group’s business complicated challenge in Zhabei, Shanghai is presently underneath development and is preliminarily scheduled for completion in 2018, a part of a broader mainland China enlargement plan.
Questions & Answers
Q.Where are the planned renovations and new department stores likely to be located?
Where are the planned renovations and new department stores likely to be located?
The renovations and new department stores are likely to be in mainland China, where Way of life Worldwide currently operates four stores. The company is also undertaking a commercial complex project in Zhabei, Shanghai.
Q.What is the purpose of the US$300 million secured through 10-year bonds?
What is the purpose of the US$300 million secured through 10-year bonds?
The US$300 million secured from the bond issue will be used to repay existing bank financing and to fund future capital spending. This spending is related to store renovations and new department store projects.
Q.What is the name of the department store brand Way of life Worldwide operates in mainland China?
What is the name of the department store brand Way of life Worldwide operates in mainland China?
In mainland China, Way of life Worldwide operates stores under the Jiuguang brand. The first Jiuguang store was established in Shanghai in 2004, with further stores opening in Suzhou and Dalian in 2009.
Reader pulse
Lifestyle's expansion focus:
17,634 votes so far