Guangdong Aiyingdao Children Department Store Co Ltd, one of the country's leading maternity and infant product retailers, has signed a strategic partnership with Standard Chartered Private Equity Limited, as it seeks to expand its network of stores across China.

The bank has taken an investment in Aiyingdao and will provide the retailer with future financing.

In a statement, the two sides said they would work together to expand in China’s fast-growing maternity, infant, and children’s product market.

Founded in 1998, Aiyingdao runs more than 230 own stores in southern, eastern, and central China, and is aiming to expand that to more than 600 in the next three years, the sides said.

Ye Faqiu, chairman of Aiyingdao, said the company aimed to establish itself “as the leader” in the sector in China.

He said its partner bank had accumulated significant experience in the consumer and retail sector, and developed “a deep understanding of China’s business environment and capital markets”.

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