UK's Laura Ashley to shift focus eastward

British fashion and furniture retailer Laura Ashley will close 40 of its stores in the United Kingdom and expand its presence in China.

The company's newly appointed executive chairman, Andrew Khoo Boo Yeow, confirmed to the Press Association that the company will close one-fourth of its 160 UK stores, having already shut eight this year.

Khoo said the company is considering opening its first brick-and-mortar stores in China, where Laura Ashley products have been available to online shoppers since 2016 via Alibaba's e-commerce platform Tmall.