Recently, the famous British accessible luxury brand Paul Smith has set up a wholly foreign-owned enterprise in China and completed the restructuring of business of China. Ms. Emilia Shi, senior partner and Mr. Ken Dai, the partner of Dacheng Shanghai Office, provided comprehensive legal services for this project, including reviewing and amendment of the transaction documents such as Asset and Business Transfer Agreements and Distribution Agreements, and the preparation of the application documents of the wholly foreign-owned enterprise. Upon closing of the project, Paul Smith will fully operate its offline operations in China.
 

In 1976, British designer Paul Smith published his first brand named "Paul Smith" in Paris. After decades of development, it has gradually established its position in the British and global fashion industry. As of FY2017, Paul Smith has global sales of £189.4 million and becoming a leader in the accessible luxury fashion industry. The restructuring of the China domestic business is an important step in completing its global strategic layout.