Shared workspace brand WeWork has acquired its Chinese rival, Naked Hub, in a deal reportedly worth $400m.
Naked Hub is part of Naked Group, a hospitality, design, technology, and lifestyle brand that was founded in China in 2007 by Grant Horsfield and Delphine Yip-Horsfield.
Naked Hub launched in 2015 and has 24 locations including Beijing, Shanghai as well as Hong Kong, Vietnam and Australia.
The deal will see WeWork combine its 13 locations across Greater China with Naked Hub to create a network of 40 locations by the end of the year. The brand claims it will have a Read full story ›
Source: The Drum
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