UK: Burberry To Buy Out Asian Franchisees
Burberry, the luxury-goods label owned by Great Universal Stores, is in talks to buy out its franchisees in South-east Asia for around £30m, the Sunday Business reported. The move will enable GUS, which also owns the Argos chain of catalogue stores, to take full advantage of Burberry's growing popularity in the Far East by retaining all the profits generated in Malaysia, the Philippines, Thailand and Hong Kong.
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