Wedgwood aims to be big in China
Wedgwood has always been big on china, now it hopes to be big in China.
Heritage British crockery and glassware-makers Waterford, Wedgwood, Royal Doulton (WWRD) will today announce a major Chinese retail expansion.
The group already has 35 stores in the Asian nation, including two flagship luxury stores in Shanghai, and its subsidiary, Waterford Wedgwood Hong Kong, has struck a deal to purchase assets from long-term distributor Shanghai Baolong International Trade Co and take on a number of store leases.
The agreement will take the number of WWRD retailers in China to 56.
"The acquisition of a significant number of Waterford and Wedgwood retail stores from Baolong in China positions WWRD perfectly to engage and meet the needs of affluent Chinese consumers," group vice president Jim Harding said.
"This announcement comes at the right time with 2015 set to mark a growing vision for our brands as we continue our commitment to developing the business globally as a leader in luxury goods."