ECONOMY

Chinese partner for Folli Follie

Athens-listed retail group Folli Follie is consolidating its presence in China by signing a cooperation agreement with the Fosun Group, the two companies told a joint press conference in Athens on Thursday.

Their strategic alliance will grant holding company Fosun a strong presence in Greece, while promising to turn China into one of the largest markets for Folli Follie and its brand Links of London, making it one of the leading fashion and accessories groups in the Asian country. Fosun will acquire a 9.5 percent stake in Folli Follie Group.

?Our alliance with Fosun Group comes as a verification of our excellent business and commercial relations with China,? said George Koutsolioutsos, chief executive officer of the Folli Follie Group.

?Nowadays Folli Follie and Links of London have more than 100 stores in China, a market that is dynamically incorporated in the group?s strategy for business development,? he added.