BELLE International Purchases Mainland Shoe Manufacturers To Improve Brand Portfolio

< p > September 9th news, < a href= "//www.sjfzxm.com/news/index_c.asp" > BELLE international < /a > announced that yesterday, the two companies owned a wholly owned Affiliated Companies and entered into a share purchase agreement with a number of independent third parties, in order not to exceed the cash price of 700 million yuan (HK $887 million), to acquire all the issued share capital of Long Hao Heaven and Earth Pty Ltd. Long Hao world is mainly engaged in the sale of footwear products, bags and bags.

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< p > the takeover is BELLE's second acquisition in a month after its entry into the women's clothing market last month, taking 732 million yuan to acquire Japanese brand name "a href=" //www.sjfzxm.com/news/index_c.asp "fashion" /a "baroque (Baroque) about 31.96% shares.

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< p > at the same time establish a joint venture with Baroque, expand the < a href= "//www.sjfzxm.com/news/index_c.asp" > dress < /a > and accessories business, the investment is not more than 924 million yuan.

Baroque operates a number of young brands including Moussy, SLY, Avan Lily and rienda. There are 348 shops, of which 319 are in Japan and 29 in overseas markets, with an annual income of about 250 million yuan.

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< p > BELLE said that under certain circumstances, the purchase price may be adjusted by reference to the value of assets of a long base day before the delivery date. The acquisition is expected to be completed in the first quarter of next year.

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When p is completed, the Dragon world will become an indirect Affiliated Companies wholly owned by BELLE. Its performance, assets and liabilities will be incorporated into BELLE's consolidated financial statements.

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"P", which sells and distributes footwear, leather bags and suitcases in China, owns and operates several private brands, including China's famous high-end footwear and leather products brand SKAP.

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< p > BELLE pointed out that the acquisition will improve the group's current brand portfolio, so that the group owns and runs its own brand in the high-end casual shoes category.

In addition, the Dragon world is in the same industry category as BELLE, and is in line with the business nature of the group. Therefore, it is expected that the acquisition and BELLE will be able to achieve synergy and benefit from economies of scale.

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