Machine-A founder: Shanghai closure not an exit from Chinese market
British multibrand fashion retailer Machine-A is reassessing its strategy in China. The store located at 66 Yuyao Road in Shanghai’s Jing’an District recently closed following a period of significant in-store discounts. Stavros Karelis, founder and purchasing director of Machine-A, stated that due to the challenging retail environment, they decided not to renew the lease. Karelis emphasized that despite the closure of the Shanghai store, this does not signify Machine-A’s exit from the Chinese market. Machine-A opened its first global branch in Shanghai in mid-2022, and Belgian brand Raf Simons also launched its first store-in-store in Shanghai within the Machine-A Shanghai store.