Ghanaian-British tailor Ozwald Boateng plans £150m global expansion

Ghanaian-British fashion designer, Ozwald Boateng, is planning a £150 million worldwide expansion of his business by 2016.

The investment will see Mr Boateng opening as many as 100 stores of his brand across the world with each store costing about £1.5 million, the Daily Telegraph reports.

“The plan is [to open] between 50 to 100 stores. As much as I am being very bullish, there are other brands you can use as an example of how to do it right,” Mr Boateng told The Sunday Telegraph December 31, 2011.

Mr Boateng started his successful menswear shop in the 1990s on Savile Row, London but his business suffered when crises hit the Japanese banking industry. He had seven stores in the country and admitted to the Telegraph that he had been inexperienced when he set them up and had become too distant.

It taught me a lot. Since then there has always been a level of caution about development,” he told the publication about the collapse.

By Ekow Quandzie