Obscene Jeans Corp announced that the company has begun its due diligence toward the purchase of Beijing Beautyfresh International Trade Co. (Beautyfresh), a Chinese government-licensed importer/exporter.
OBJE signed a Letter of Intent to purchase Beautyfresh last week. The company is one of a select few import/export entities authorized by the Chinese government to service and distribute foreign products in the emerging Asian superpower. OBJE President and CEO Robert Federowicz said Monday that it is this license that makes Beautyfresh an attractive acquisition target for Obscene Jeans, which is working to position itself as a global luxury lifestyle brand.
“Purchasing Beautyfresh would give our company a tremendous inroad into the Chinese fashion and beauty markets,” Federowicz said. “Before we commit, of course, we will carefully examine Beautyfresh's company financials, proprietary technology, potential patents and other factors. We're optimistic that this transaction can be completed quickly and profitably for both companies.”
OBJE's potential purchase of Beautyfresh would cement what has become a close business relationship between the two companies. Their cooperative efforts began earlier this month when the two companies formed a global strategic profit alliance making Beautyfresh the sole distributor of OBJE-branded products in China. Last week, OBJE announced that Beautyfresh's successful line of luxury soaps and other beauty products made using all-natural imported plant oils will now be sold under the Obscene Beauty brand.
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