PCD stores was established in 1998 and is a leading group of luxury goods department stores in China, serving high-income customers in major cities. The group carries more than 1600 luxury brands and offers an extensive range of merchandise, sportswear, cosmetics and household goods.

We invested US$31m in 2005, using our knowledge and experience in the consumer sector both domestically and in Europe to recognise PCD stores' potential. During our investment period PCD Stores has demonstrated impressive growth, achieving revenue and profit CAGR of about 100% in the last two years alone. Its network of self-owned stores has risen from four to nine since January 2006 and PCD currently operates or provides management consultance services to sixteen department stores and one outlet mall in Beijing and seven provinces in China.

In December 2009, PCD successfully listed on the Hong Kong Stock Exchange offering 1.5billion shares raising US$377m. The IPO values the company at US$1bn.