Home / Knowledge / News / Apparel/Garments / Bosideng International buys Jessie ladies' wear brand
Bosideng International buys Jessie ladies' wear brand
01
Nov '11
Bosideng International Holdings Limited, the largest down Apparel Company in the PRC, is pleased to announce that the wholly-owned subsidiary of the Group, Jessie International Holdings Limited, entered into an agreement on 28 October 2011, to purchase 70% shares of Talent Shine Limited and Sunny Bright Global Investments Limited (Target Companies) for a total consideration of RMB892.5 million.

One-third of the consideration will be paid in cash by the Group's internal resources, while the remaining two-thirds will be paid by the issuance of 235 million shares in the Company at the price of HK$3.10 per share.

The Target Companies own several mid-to-high end ladies' wear brands including “JESSIE” and “Le Mauve”, and provide services such as design, brand marketing and planning. For the year ended 31 December 2010, the profit after tax of Talent Shine Limited amounted to RMB54.4 million. In addition, Talent Shine International Limited will offer profit guarantee to the Group, guaranteeing CAGR in the profit after tax of more than 25% in 2012, 2013 and 2014.

“JESSIE” is a leading mid-to-high end ladies' wear brand in the PRC established in 1999, with brand position of stylish ladies' wear targeting business women aged between 28 and 45. Its product portfolio covers both business and casual styles. As at the end of September 2011, “JESSIE” owned 81 self-operated stores and 172 franchise stores.

Upon completion, the Group will sell ladies' wear of the “JESSIE” brand by way of self-operated and franchised businesses, and will consider tapping the international market when suitable opportunities arise. Looking ahead, the Target Companies will put greater effort in the expansion in the China market. It is expected that 200 new stores will be opened in the next three years, with the total number of stores reaching 400.

Commenting on the acquisition, Mr. Gao Dekang, Chairman and CEO of Bosideng, said, “The Group's product portfolio will be further enhanced, and our non-down apparel business and revenue composition will also be strengthened through the acquisition.

'JESSIE' can also leverage the abundant resources of the Group to accelerate its business expansion. I look forward to working with the outstanding management team of 'JESSIE', to achieve our goal of becoming a world famous integrated brand operator, thus bringing maximum returns to our shareholders.”

Bosideng International Holdings Limited is the largest down Apparel Company in the PRC. As at 31 March 2011, it has 7,579 retail outlets selling down apparel under its six core brands including “Bosideng”, “Snow Flying”, “Kangbo”, “Bengen” (previously known as “Bingjie”), “Shuangyu” and “Shangyu”.

Bosideng International Holdings Limited


Must ReadView All

Digital textile printing sector to grow by 20% by 2020

Textiles | On 18th Jun 2018

Digital textile printing sector to grow by 20% by 2020

The digital textile printing sector is expected to have a compound...

Courtesy: Hela Clothing

Apparel/Garments | On 18th Jun 2018

Hela's latest label revolves around underwear, sleepwear

The latest collection of Sri Lanka’s Hela Clothing is revolves mostly ...

Kenya levies higher duties on mitumba import

Apparel/Garments | On 18th Jun 2018

Kenya levies higher duties on mitumba import

Kenya’s treasury secretary Henry Rotich recently raised the duty on...

Interviews View All

Karan Toshniwal
Orange O Tec

Contemporary industry is paying more and more attention to the...

Cindy McNaull
Cordura

We have broad range of options in durable fabrics

Yash Agarwal
Hitansh Online

Every market region has its own culture and trends

John Kelley

Textile Events is one of the largest textile fair in the United Kingdom,...

Tom Adeyoola

Describing itself as the best body shape and garment fit company in the...

Urmil Arya

Sushila International, a well established textile organisation established ...

Urs Stalder
Sanitized AG

Urs Stalder, CEO, Sanitized AG, talks about the increasing use of hygiene...

Kerem Durdag
Biovation II LLC

Kerem Durdag, CEO, Biovation II LLC, provides an insight into future...

Lynda Kelly
Suominen Corporation

Suominen Corporation is a manufacturer of nonwovens as roll goods for...

Ritu Kumar
Label Ritu Kumar

‘Classics will return’ "There are a lot of people wearing western clothes ...

Akta Adani
India Boulevard

India Boulevard is a San Francisco-based curated fashion marketplace that...

Robert Brunner
Devereux

Golfwear and menswear brand Devereux is set for greener pastures. Robert...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search