Sanpower Group reveals new strategy as it brings luxury specialist Guy Salter on board

London - Sanpower Group, the Chinese giant which is currently selling part of its majority stake in British department store chain House of Fraser, has restructured its business in order to accelerate its global brand building strategy.

As part of its restructuring, Sanpower has appointed luxury retail specialist Guy Salter OBE as co-chairman of the group's new retail business. Sanpower new strategy sees the company focusing on five separate divisions: health, retail, finance, technology, and industry. The company's new retail industry group will include its consumer and retail business, such as department stores House of Fraser and Brookstone.

"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," said Salter in a statement on his new role.

The change in business structure is said to reflect Sanpower's continued commitment to adapting to consumers shifting habits around the globe, as part of its long-term brand-building strategy for its 100 plus businesses and subsidiaries.

Salter new appointment at Sanpower marks the first major hire under the new strategy. As the former deputy chairman of Walpole, the official sector body for UK luxury and the founder of London Craft Week, Salter brings years of international market experience with him.

In his new role, he will advise Sanpower Group Chairman Yuan Yafei on the integration of the group’s global supply chain. "I’m excited to welcome Guy Salter to help drive Sanpower’s global retail operations at a group level," said Yuan on his appointment in a statement. "Guy’s proven excellence in retail and luxury will help ensure we become the leading player in new East-West retail concepts."

Photo: Guy Salter