Global Brands Group to sell loss-making kids business in China

For the six months ended September 30, 2018, Global Brands Group’s revenue on a like-for-like basis, excluding the impact of the divestment of select North American businesses, decreased by 4.1 percent to 699 million dollars, compared to the same period last year, which the company said is mainly due to a decrease in China Kids and Home business. The group completed divestment of North American licensing business in October and has now decided to sell the loss-making kids business in China.