Apparel Luxury Brand Spain

2010/3/3 14:17:00 21

Bai Boli, a luxury goods group, will restructure its loss business in Spain, halt its high-end production and shut down an organization, which means it may cut 300 jobs. Burberry

The company said recently that Spain has been in a prolonged economic downturn, so it is impractical to continue to design and sell high-end series for the Spanish market.

Bo Li Li said that it will stop production in the local series after 2010 autumn and winter and close an organization in Barcelona.

The company will launch its global series through all channels in Spain, including direct stores, franchises and wholesale businesses since the 2011 spring summer series.

The restructuring will cost 50 million to 70 million euros at a time.

Bo Li Li said that at present, it has been able to predict the loss of the Spanish market after the 2009/2010 season.

However, the group said the 2009/2010 pre tax earnings were consistent with the expected value.

In January, broccoli broke the sales forecast for the third quarter of last year, and expected annual earnings to move towards the highest expected value.