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Belle in JV with Baroque for Chinese apparel retail trade
06 Aug '13
1 min read
Hong Kong based Belle International Holdings Limited, through its wholly-owned subsidiary Pu Crown has purchased US$ 93.963 million (HK$ 732.911 million) worth of shares of Baroque Japan Limited, amounting to approximately 31.96 percent of Baroque’s total share capital.
Baroque, which operated 348 stores as of April 20, 2013, across Japan, Hong Kong and China, is primarily engaged in apparel and accessories retail business.
As per the share-purchase agreement, Belle International would establish a series of stores in joint venture with Baroque to explore the Chinese apparel and accessories business.
The total investment of the joint venture is expected to be not more than HK$ 924 million.
“The Board of Directors consider that this investment and joint ventures of the Group will provide an opportunity to develop the Chinese fashion industry and is expected to increase the Group's consumer market coverage,” Belle said in a press statement.
Fibre2fashion News Desk - India
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