Sanpower unveils new industry strategy, brings in luxury specialist Guy Salter
today May 24, 2018
Sanpower, the giant Chinese conglomerate that’s selling a large chunk of its controlling House of Fraser stake, on Thursday announced a new industry strategy and said that luxury specialist Guy Salter has been appointed Chairman of the group’s New Retail business.
The Chinese giant is clearly not retreating from retail and its retention of a 38% stake in HoF, plus its ownership of US business Brookstone and other Chinese retail ops underlines that fact.
The company said its new structure is a sector-focused one designed “to accelerate its global brand-building strategy.” It will break down to five key industry-focused divisions: health, retail, finance, technology and industry.
The company said the changes reflect Sanpower’s “continued commitment to adapting to the changing habits of consumers around the world as part of a long-term brand-building strategy for its 100-plus businesses and subsidiaries.”
Salter, the former deputy chairman of the Walpole luxury brand organisation and the founder of London Craft Week, is the first major appointment as part of this strategy and the firm said he “brings a wealth of international luxury sector experience to the group.” He will also advise Sanpower Chairman Yuan Yafei on the integration of the group’s global supply chain.
He started his career in fast fashion with the Arcadia Group and later worked for The Prince of Wales before acting as CEO or investor in businesses including Asprey Group, BazaarVoice, Laurent-Perrier Champagne, Tanner Krolle, Garrard, Monica Vinader, and Hamilton & Hare.
Yuan said: “Guy’s proven excellence in retail and luxury will help ensure we become the leading player in new East-West retail concepts.”
Salter added: “Retail at its best is always about innovation, and it’s a great privilege to be given the chance to make a creative and strategic contribution to the development of Sanpower’s global retail portfolio as the group celebrates its 25th anniversary.”
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