Nine West China closes last store
Nine West China has closed its last Beijing store.
The New York-headquartered women’s footwear retailer, which filed for bankruptcy in April, was popular in China from the mid-90s but has struggled with increasing competition. It is now pulling out of the region entirely, citing poor management of its stores. It closed its online store last month.
Nine West China’s regional agency GRI Group has reported financial difficulties and withdrawn from Taiwan and Hong Kong.
Nine West Holdings is now focusing on jewellery and apparel, rather than shoe retailing.
Its Nine West and Bandolino footwear brands were sold to Authentic Brands Group in June for US$340 million.