By bringing in Mothercare, I can use their advanced management pattern to penetrate the retail market.
He had a hand in creating several businesses, among them Cavenham Foods and Mothercare.
Alan Parker, Mothercare's executive chairman, said the company had experienced a "difficult" six months.
Other companies, including chocolate firm Thorntons, music store HMV and children's goods retailer Mothercare, announced shop closures.
There are no Goodbaby brand strollers at Mothercare, even though Goodbaby made most of them and also co-owns the store.
Last year Goodbaby also launched the U.K.'s Mothercare stores in China under a joint venture of which Goodbaby owns 70%.
The hefty loss came after Mothercare wrote down the value of assets and took charges related to UK store closures.
It says that nine well-known stores, including Tesco, Mothercare and Marks and Spencer have bought garments from one such manufacturer.
Mothercare has reported a further decline in sales at its UK High Street stores, mitigated by rapid growth in its international business.
Mothercare is continuing to search for a new chief executive following the announcement that Ben Gordon would stand down by mutual consent on 17 November.
Mothercare's share price fell 4.1% in early London trading on Thursday following the release of the sales figures, but recovered most of its losses later in the day.
Not far away on a recent Thursday afternoon, at a Mothercare store on Huaihai Middle Road, wealthier Chinese shoppers were spending big money for baby products with foreign labels.
Mothercare, which also owns the Early Learning Centre chain, has been scaling down its presence on the UK High Street as part of its turnaround plan, and now has only 269 stores, compared with 311 last April.
Since Mike's report was compiled Tesco, Marks and Spencer and Mothercare have all agreed to work with several other big retailers, NGOs and the Ethical Trading Initiative to back efforts to persuade the Indian government to reform the country's apprenticeship system.
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