In a joint venture announced Wednesday, La Vie en Rose has partnered with Retail China Ltd. of Hong Kong with plans to develop and operate retail channels for the retailer in China, Hong Kong and Macau. The first flagship shops are planned for Beijing and Shanghai later this year.

La Vie en Rose, which has more than 100 stores in Canada and 40 stores in the Middle East, joins Canadian retailers expanding in China through partnerships including Roots, La Senza (now a division of Limited Brands), and Fruits and Passion.

"Globalization creates new markets and wealth and we want to be part of it, and China, as one of the fastest growing economies, is a must," said Francois Roberge, president of La Vie en Rose. "China will be the largest market within the next 20 years. The future of La Vie en Rose is directly linked to the development of partnerships."

Retail China is a venture operated by Canadian Janet De Silva, who previously ran Sun Life Financial Inc.'s business in China before founding Retail China in 2007. Its business model involves buying the Chinese franchising rights of targeted brands for 20 years in deals that involve an upfront fee as well as royalties and other payments based on sales and store-opening performance targets. The company is working with retail real estate developers who plan to open 200 malls in China over the next three to five years.

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