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Sanpower to expand House of Frazer stores in Russia

RBR Staff Writer Published 05 May 2014

China-based Sanpower Group has revealed its plans to expand the recently purchased British department store House of Frazer in Russia and Middle East.

Sanpower chairman Yuan Yafei was quoted by The Financial Times as saying that they would open four franchise stores in Russia and two in Abu Dhabi over the next two to three years, and a flagship Oriental Fraser store in Nanjing in 2015.

In April 2014, the retail-to-property group Sanpower purchased 89% stake in House of Fraser for £480m. The remaining 11% is owned by UK retailer Sports Direct founder Mike Ashley.

Yuan said the deal would also help Sanpower face the growing challenges posed by e-commerce and increasingly complex global supply chains.

"It has the type of department store management system that the Chinese department stores right now lack, especially its buyer system, house brands and also European supply chains," Yuan added.

As part of his plans, Yuan does not want to disturb House of Fraser's UK management team and looks to invest on its UK operations to renovate the stores.