Home / Knowledge / News / Apparel/Garments / Mecox Lane to spin-off apparel & accessories business
Mecox Lane to spin-off apparel & accessories business
12
Aug '14
Mecox Lane Limited, a multi-brand and multi-channel retailer in China, announced that its board of directors has approved a spin-off of the Company's apparel and accessories business through the sale of Mixblu Limited and its subsidiaries to Fast Fashion China Limited, a company controlled by the former chief executive officer of Mecox Lane, pursuant to a share purchase agreement entered into as of August 8, 2014.

The deal is expected to close in September of this year, subject to the satisfaction of customary closing conditions specified in the share purchase agreement.

Prior to entering into the share purchase agreement, potential third party buyers were sought and an independent appraisal firm was engaged to assess the market value of the Company's apparel and accessories business.

"This is an important and exciting step in our plans for repositioning Mecox Lane as a dynamic retail brand and for leveraging our large membership base," said the Company's director and chief executive officer, Ms. Ingrid Wang.

"The sale of the Company's apparel and accessories business, which has consistently underperformed while yielding significant negative cash flows, will give us greater flexibility in growing our health and beauty business at a time of exciting opportunities in that sector. With that goal in mind, we will build the Mecox Lane brand and enhance its reputation by introducing a lifestyle of wellness and wellbeing to our customers and members with quality health and beauty products and personalized services."

Mecox Lane Limited


Must ReadView All

Textiles | On 23rd Jun 2017

Textile ministry organises training workshop on GST

The ministry of textiles had organised training workshop on GST which ...

Apparel/Garments | On 23rd Jun 2017

Uware Brands into licensing agreement with Polaroid

Uware Brands has entered into a licensing agreement with Polaroid for ...

Textiles | On 23rd Jun 2017

Ralph Lauren ex-president Tiger of Sweden's new CEO

Hans-Christian Meyer, former president of Ralph Lauren Corporation,...

Interviews View All

Smita Murarka
Amanté

‘There is huge demand in the Indian lingerie market for non-wired styles.’

Kamlesh Vaghela
RK Textiles

Very few machinery manufacturers have R&D units

Varinder Singh Jawanda
Trendy Bharat

Sizing and fitting issues are inherent problems for companies expanding...

Lynda Kelly
Suominen Corporation

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

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Silke Brand-Kirsch
Schlegel und Partner

Silke Brand-Kirsch, executive partner of Schlegel und Partner, a leading...

Silvia Venturini Fendi
Fendi s.r.l

"Yes, my confidence and positive attitude are my strengths and should be...

Madhu Jain
Madhu Jain

She grew up in the walled city of Old Delhi, completed her studies, and...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

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

news category


Related Categories:
June 2017

June 2017

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

SUBSCRIBE


Browse Our Archives

GO


E-News Insight
Subscribe Today and Get the
Latest News Update in Your Mail Box.
Advanced Search