Joint venture to tap into China's retail market for fashion products

A joint venture, invested by South Korea's Eland Group and Brand For Less (BLF) Group from Dubai, will be set up in Shanghai to tap into China's retail market for fashion products.

With an initial registered capital of US$10 million, the venture plans to open its first offline store in the E-Innovation Valley in Minhang District. The investment is expected to reach US$20 million when it expands further into East and Southwest China.

With Eland's 30 years of experience in China's fashion industry and BLF as a top budget-product retailer in the Middle East and North African regions, the venture intends to create a global buyer exchange platform, offering direct consumer access to fashion and lifestyle products.