UK retailer House of Fraser expands to China

UK department store House of Fraser announced on Tuesday it will open three stores in the Chinese cities of Nanjing, Chongqing and Xuzhou in 2016 and 2017.

The company will also begin online trading in China and Australia.

"We are confident that the group's business model, with our premium brand positioning and strong multichannel operation will ensure that House of Fraser continues to grow and develop for the foreseeable future. We are very excited by the future as we embark on the next phase of growth both in the UK and internationally,” said the company's chief executive Nigel Oddy.

The moves comes as the group, bought by Chinese Sanpower Group in 2014, saw annual profits rise 7% due to the success of its online service.

The company posted on Tuesday record sales of £ 1.3bn through its 59 UK stores.

“Our online business has performed exceptionally strongly and has substantial future potential. The web store has been the largest single store in terms of sales for the last three years and, for the first time this year, it has become the most profitable store in the Group,” said Oddy.

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