The business collaboration envisages the appointment of Furniweb as the authorised dealer for the distribution, promotion and sale of luxury fashion apparel carried on under PPI’s trade name and/or lifestyle fashion apparel carried on under PS AG’s trade name in Singapore, Malaysia and Thailand.
The LOI also covers the possibility for further business collaboration in other countries in Southeast Asia.
The authorised dealer agreement is, subject to finalisation, expected to be entered into by no later than the third quarter of 2018, Furniweb said in a filing with The Stock Exchange of Hong Kong Limited.
The Philipp Plein Group is based in Lugano, Switzerland and a luxury goods conglomerate in the international fashion industry. It designs, manufactures, and retails high-class apparel (including lifestyle apparel and sportswear) for men, women and kids in Switzerland and internationally. It operates a number of mono-brand stores globally, including flagships in Milan, Paris, New York, Los Angeles and Hong Kong.
“We are enthusiastic to capture new business opportunities and are strategic about the projects we take on. We believe the association with a famous global apparel brand will bring new elements and dimension to the Group’s profile, potentially broaden the customer base for our existing core business and provide opportunities for growth,” Furniweb said in its filing. (RKS)
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