GENERAL MERCHANDISE NEWS
Ozwald Boateng to expand business worldwide
3 January, 2012 | by Retail Bulletin
Menswear designer Ozwald Boateng is planning to open as many 100 new stores worldwide as part of a major expansion of his business.
The Savile Row tailor has been in talks with banks and institutional investors regarding up to £150 million of investment by 2016.
Each store will cost an average of £1.5 million and will be funded using a joint-venture or franchise model. Boateng told the Sunday Telegraph: “The plan is [to open] between 50 to 100 stores. As much as I am being very bullish, there are other brands you can use as an example of how to do it right.”
Boateng is said to be considering opening a second London store within the next 12 months, possibly in the Sloane Street area, as well as a store in Paris.
