French fashion brand Morgan has opened a new factory in the capital of East China's Jiangsu Province, Nanjing, according to China Textile Daily.

The company hopes to slash prices by 30 per cent with the opening of the new production plant and aims to go on to open 200 Chinese franchise stores over the coming five years.

Morgan's joint venture with J&B Group of Hong Kong - Morgan (Nanjing) Clothes Making Co Ltd - is the brand's first direct investment in China, of which the Nanjing plant will be the design, production, procurement and supply chain management centre.

Morgan is based in Paris and operates more than 1,000 sales outlets throughout approximately 50 countries and regions.