New Look, UK based high street fashion group has declared that it has agreed to sell the women’s ready-to-wear chain (French business Mim) to Main Asia, a firm advised by Hong Kong-based consumer products giant Asia Global. The amount has not been disclosed for the same. Main Asia will take over all company-owned 274 Mim stores in France and Belgium, as well as 86 concessions in France, Morocco and Romania. Two months ago, New Look was forced to take an US $ 83 million write-down on the value of the Mim’s assets. “Our focus is now squarely on the core New Look brand, expanding its presence in the UK, internationally and online,” said Anders Kristiansen, Chief Executive, New Look.
