Another Fast Fashion Brand Lost China C & A Announced Sale Of China Business

Recently, European fast fashion brand C & a cloth announced that it would sell its China business to Beijing based private equity company Zhongke Tongrong.

According to C & A, the sale of the Chinese business has been completed because there is no antitrust review. The sale means that the brenninkmeijer family, the owner of C & A AG, has withdrawn from the last "bastion" of once glorious fast fashion brands outside Europe.

"Like Brazil and Mexico, China is seen as an important growth market for the brand," said Allan Leighton, chairman of the C & a group's board. But we have learned very early that local know-how with a strong network is essential if we want to make the most of C & A's potential in this huge and complex market. Given the impact of the covid-19 epidemic on the retail sector, the sale of the Chinese subsidiary offers an opportunity to accelerate C & A's growth in the country, which is now more than ever right. "

It is reported that C & A is a century old store belonging to the brenninkmeijer family in the Netherlands. The brenninkmeijer family opened its first C & a branch in China in 2007 and set up an online store in 2014.

Recently, the number of branches in China has dropped by 18. Currently, it has 66 stores in 23 cities. For a huge market like China, C & A is relatively small. At present, C & A only retains its core business in Europe. It will still have 1400 branches in 18 countries in the future, but it is reported that dozens of branches will be closed in Germany.