Asian group Giordano creates Spanish subsidiary
Fashion retailer Giordano is taking its first steps in Spain. The Hong Kong-based textile group recently established a subsidiary in the country, after opening four temporary stores in the last three months in different Madrid neighbourhoods, helped by local agency Pop Up Store Spain, a specialist in this type of store.
The group has opened stores both in the city centre (on the Paseo de la Habana, and the Velarde and Barco streets in the Malasaña neighbourhood) and inside a shopping mall (Tres Aguas in Alcorcón). The latter two remained open the longest. The shopping mall store was operational for two months starting from December, while that on Barco street was open throughout February.
After testing the Spanish market, next week Giordano will open a new pop-up store in London's Shoreditch district. The store should stay open for two months, and it too has been set up in collaboration with Pop Up Store Spain.
The Trade Registry's official bulletin indicated that Giordano has established a subsidiary in Spain under the name of Giordano Fashions Retail Spain, which began to do business in early March. The subsidiary's registered office is located on Paseo de Recoletos in Madrid, and the company has a share capital of €3,000, its only shareholder being Bluestar Exchange Limited.
Giordano was founded in 1981 and it currently operates more than 2,300 stores in 30 countries. Nearly 75% of its revenue is generated in China, South Korea, Hong Kong and Taiwan.
Giordano is listed on the Hong Kong Stock Exchange. The group focuses on women's, men's and children's fashion, retailing its own brands: Giordano, Giordano Ladies, Giordano Junior, Beau Monde, Eula and BSX. In 2015, the group's turnover reached approximately €615 million, equivalent to a 3% decrease in consolidated revenue.
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