Korean Clothing Brand "Bear Vigny" Total Price Of Nearly 900 Million U.S. Dollars Sold To Vigna S

Korean clothing giant love and love group came out to flag

Vigny Teenie Weenie sold to a Chinese clothing company with a paction price of US $895 million.

Vigny (Teenie Weenie) shop

Vigny, the buyer of little bear, is a Chinese clothing company.

(603518, stock bar) fashion Limited by Share Ltd (603518, hereinafter referred to as Vigna S).

In August 30th, Vigna S released the "urgent suspension notice for the acquisition of major assets".

The company's stakeholders told reporters on 2 September, "the company will issue a notice to further explain the matter after today's closing."

South Korea's clothing and love group entered the Chinese market in 1994. Its headquarters was set up in Shanghai. It was one of the few foreign brands in China. Its brands include Eland, Teenie Weenie, Roem, Prich and SPAO, which are familiar with Korean brands, and the group has more than 8000 Direct stores in China.

Teenie Weenie is a casual wear brand with bears as its image. Its color is bright and fashionable. It has entered the Chinese market since 2004, and now there are nearly 1000 in China.

However, in recent years, fast fashion and the impact of electricity providers, the traditional clothing brand performance growth is weak, the clothing and love group is no exception.

Over the past two years, the clothing and love group has focused more on tourism, shopping malls and catering operations, and has worked with Wanda Group and Shanghai Tianshan Baisheng to strive to achieve cross-border operation in many fields.

At the summit of "2016 China shopping center and fashion retail development", Liang Yizhe, the director general of THE ELAND GROUP, disclosed that the domestic clothing brand entered a low tide period. From the view of the development path of the clothing group, the clothing brand is bound to experience the three stages of pition from a single brand to a retailer.

Liang Yizhe said that clothing and love initially made a brand first and then entered the stage of brand development. What is going on now is the development stage of retailer identity.

Vigna S is mainly engaged in VGRASS brand high-end.

Design, production and sales.

Since its listing on the Shanghai stock exchange in 2014, its performance is also struggling.

In 2015, Vigna S appeared for the first time in 7 years and showed signs of decline in both revenue and net profit.

In the semi annual report issued in 2016, issued in August 26th, the operating income was 372 million, down 15.51% from the same period last year, and the net profit fell by 60.78%, which was only 28 million 920 thousand yuan.

As of June 30th, the number of shops sold by Vigna S was 215, a decrease of 66 compared with the same period last year.

In the face of declining performance, the company finally tried to seek a turn for the better through asset acquisition.

Last May, he bought the Limited by Share Ltd of Nanjing Yun Brocade Research Institute for 135 million yuan.

However, the 2015 annual report shows that the net profit of Yun Jin shares in 2015 is about 165 thousand yuan.

In the first half of this year, brocade income was also tens of millions.