Home / Knowledge / News / LVMH to jointly own and control Heng Long
LVMH to jointly own and control Heng Long
10
Oct '11
LVMH Moët Hennessy - Louis Vuitton (LVMH), the world's leading luxury products group, and the Koh family, the founders and controlling shareholders of Heng Long International Ltd have reached an agreement to jointly own and control Heng Long.

Heng Long is a valued and trusted supplier of fine quality crocodilian leather to luxury and high-end fashion products manufacturers globally, including LVMH. It is a family-run tannery in its fourth generation, based and listed in Singapore, whose origins were founded in the early 1950's. It is widely recognized for its tanning and finishing expertise and craftsmanship.

The partnership with the Koh family will strategically complement LVMH in the procurement of high quality crocodilian skins. It will furthermore benefit Heng Long's suppliers and customers, through the continuous development and promotion of industry-leading finishing techniques and its increased financial means. This is an excellent fit between two partners who share demanding standards for sustainable development and conservation of wildlife species.

Under this agreement, HLI Holding Pte. Ltd. (HLI), a dedicated holding company, will make a cash offer for 100% of the outstanding shares in Heng Long for a total consideration of S$160.8 million (i.e. approximately €92million). HLI has received irrevocable undertakings from the Koh family to accept the Offer in respect of their entire shareholding interest of Heng Long shares, representing approximately 74% of the total issued share capital of Heng Long. Following the close of the Offer, the Koh family will re-invest a substantial portion of their proceeds from accepting the Offer and, as a result, HLI will be owned 51% by LVMH and 49% by the Koh family.

Demonstrating their commitment to Heng Long's business, the Koh family has entered into a long term shareholders' agreement with LVMH. Mr. Chon Tong Koh and Mr. Choon Heong Koh have committed to remain as Managing Director and Executive Director of Heng Long respectively for at least five years. LVMH and the Koh family intend to pursue Heng Long's present strategy, to further develop its expertise and to continue to act as a leading partner for Heng Long's suppliers and customers.

A world leader in luxury, LVMH Moët Hennessy - Louis Vuitton possesses a unique portfolio of over 60 prestigious brands. The Group is active in five different sectors: Wines & Spirits, Fashion & Leather Goods, Perfumes & Cosmetics, Watches & Jewelry, Selective retailing.

Heng Long International Ltd. is one of the five top-tier tanneries of crocodilian leather in the world. The Company is primarily engaged in the business of sourcing, tanning and processing of a wide range of raw crocodilian skins into crusts and high-end premium finished crocodilian leather and supplying them to the global luxury and high-end fashion industry.

LVMH


Must ReadView All

Union Minister for finance Arun Jaitley chairing the 25th GST Council meeting, flanked by minister of state for finance Shiv Pratap Shukla (right) and finance secretary Dr Hasmukh Adhia. Courtesy: PIB

Textiles | On 20th Jan 2018

GST rate on velvet fabric reduced to 5%

The 25th Goods and Services Tax (GST) Council meeting, held under the ...

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

Textiles | On 20th Jan 2018

RIL petrochemicals’ revenue grows 47.6% in Q3 FY18

The revenue from the petrochemicals segment at Reliance Industries...

Courtesy: Cotton USA

Textiles | On 20th Jan 2018

US cotton bodies pledge to support CCI activities

Ten US cotton organisations have pledged industry contributions in...

Interviews View All

Top executives
Fashion houses, India

With technology, it has become easier to ensure IPR

Vasanth Kumar
Max Fashion India

‘Traditional high-street retailers are now willing to offer franchisees to ...

Cyril Pereira
Reed Exhibitions India, organiser of Asian Machine Tool Exhibition 2016

'Major problem in the textile machinery manufacturing industry is the lack ...

Harmeet Singh

New Delhi-based Jogindra Industries Private Limited provides an assortment ...

Hardik Sanghvi

Idealin Fogging Systems has been engaged in designing and manufacturing...

Sugandha Bhardwaj

<div>New Delhi-based Brinjal Designs Pvt Ltd manufactures home furnishing...

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...

Steve Cole
Xerium Technologies

Steve Cole of Xerium Technologies discusses the industry. Xerium is the...

Anisha Chaudhari
Threads & Shirts

Threads &amp; Shirts is a freshly-tailored concept providing men/women a...

Mike Hoffman
Gildan Activewear SRL

Gildan Activewear, a manufacturer and marketer of branded clothing and...

Tony Ward
Tony Ward

"You have to truly understand what your client wants, know her needs, what ...

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

January 2018

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

news category


Related Categories:

Planning to Take the Leap towards
Sustainability?

Do you see sustainability as a route to business growth?

Yes No

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes No

Active Poll

Do you see sustainability as a route to business growth?

Yes
69.1%
No
13.4%
Skip
17.5%

Total Votes: 97

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes No

Active Poll

Do you think the sustainability space has the needed tools and resources available for a business to lead change?

Yes
63.9%
No
28.9%
Skip
7.2%

Total Votes: 97

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes No

Active Poll

Do you think adopting a sustainable approach will be a profitable move for your business?

Yes
87.6%
No
9.3%
Skip
3.1%

Total Votes: 97

Thanks for your valuable feedback. Claim your free latest sustainability e-book.

Active Poll

Do you want the world to know about your sustainability journey and your business’ environmental footprint?

Yes
82.5%
No
8.2%
Skip
9.3%

Total Votes: 97


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