Hongkong Luxury Retailers Milan Station Net Loss Of HK $10 Million 354 Thousand Temple Library Or Acquisition

Hongkong used luxury retailers Milan station Holdings Limited today issued a profit warning. It is expected that the fiscal year ending December 31, 2013 will be significantly higher than the 2012 fiscal year. The expected loss is mainly due to the continued slowdown in the luxury handbag retail market in 2013 and the weakening of consumer sentiment. Now let's take a look at the details of the world's clothing and shoe net.

Milan's revenue decreased 12.2% to HK $328 million 500 thousand in the first half of the year, and a net loss of HK $10 million 354 thousand, from HK $386 thousand in the same period last year. As of June 30, 2013, the company's "Milan station" and "French station" retail outlets operate 16 retail outlets and a special store in Hongkong, mainland China and Macao.

In mid November, Milan station announced that the founder and chairman of the board and chief executive officer Yao Junda held Mei Mei Enterprise Co., Ltd. A preliminary discussion with an independent third party on the sale of shares has been made. Stimulated by the news, Milan's stock price surged 80% in November 21st, and its market value soared to HK $728 million from HK $294 million.

At present, Yao Jun Da It controls 490 million shares of Milan station stock by 72.29%.

In December, mainland media quoted sources as saying that the mainland's fashion business providers. pawnshop set up by a temple Interested in acquiring Milan station. Senior vice president, temple Library Song Yu Wei In an interview with Tencent science and technology, he said, "the management level of the company is mainly concentrated on business, and there is not much energy to take account of the capital level." Last week, Li Rixue, the founder of temple library, went to Hongkong to prepare for the opening of the new store. There are also speculation that the temple library wants to backdoor Milan station listing.

According to public information, the monastery acquired IDG capital of 10 million dollars in 2011, and won 30 million dollars and second rounds of investment in Yintai capital, IDG capital, Bertelsmann Asia Investment Fund and Sanghe investment in 2012. In 2013, it got the third round of ten million dollar financing from Pan Gu and the former investor. Temple library as an electricity supplier is also under the opening line of the channel, through the club, consignment and other ways to open entity experience shop, currently in Beijing and Shanghai have solid projects.

Milan station Holdings Limited, Hongkong's main competitor in the market, Japanese second-hand luxury electric business Brandoff At the end of the month, the founder, Anshan Mian, opened a new store in Hongkong and said he had no intention of buying Milan station. Anshan Mian Brandoff thought that the unique technology management source was better than Milan station, and would not consider buying other businesses for the time being. Domestic website says Gome And Jingdong intends to buy Milan station.