C.banner Acquired World-renowned High-end Toys Brand - Hamleys for a Cash Consideration of GBP100 million

Oct 30, 2015 09:43 JST

An Important First Step of the Global Branding Strategy Establish an International Integrated Retail Platform

HONG KONG, Oct 30, 2015 - (ACN Newswire) - C.banner (1028.HK), the leading retailer of mid-to-premium women's formal and casual footwear in the PRC, is pleased to announce that Company and Ludendo Entreprises SAS ("Ludendo Group") had entered into an official Share Sale and Purchase Agreement which the Company purchased the entire issued share capital of Ludendo Enterprises UK Limited ("Ludendo UK") for a cash consideration of GBP100,000,000. Upon completion, Ludendo UK becomes the wholly-owned subsidiary of the Company and therefore it owns Hamleys ("Hamleys"), a global leading high-end toys retailer brand.

Being one of the world-renowned retailers of toys, Hamleys has been providing customers with unique shopping experience leveraging on its reputation and brand heritage. Throughout the years, Hamleys has successfully expanded to Europe, Middle East and Asia by leveraging its franchising model.

As a leading retailer of mid-to-premium women's formal and casual footwear in the PRC, C.banner is committed to developing its existing footwear business and considers a strong brand as an exceptionally powerful resource in delivering a competitive advantage in terms of the marketing and sales of product. Mr. Chen Yixi, Chairman of C.banner remarked, "We are glad to work with Ludendo Group, which the Company believes is in line with the new global branding strategy coupled with its business diversification development plan. The strong brand of Hamleys will greatly enhance the Company's competitive advantage. Company will also actively explore areas of cooperation among the respective existing business of Hamleys and the Company with a view to achieving greater synergy among them and in turn enhance the Company's comprehensive strength."

C.banner will consolidate its diversified business with Hamleys to establish a larger integrated retail platform; In the background of China's transition to a consumption-driven economy, Company could leverage on its know-how of retail operation in China and long-term relationships with wholesalers to quickly develop Hamleys' Chinese business; In addition, Hamleys possesses international background and extensive experience in global retail industry with managerial expertise, which contributes significantly to the Company's future overseas expansion and further business acquisitions; Company could also improve IT spending and corporate functions efficiencies with Hamleys through cost-saving initiatives including shared services and back offices combinations.

Mr. Chen concluded, "Looking forward, C.banner will fully leverage both its position and experience in the retail industry and the addition of the Hamleys brand, to expand its business with a focus on retail premises such as department stores to further implement the global branding strategy. Currently, Company is exploring different options for a strategic business partnership with House of Fraser, a leading premium department store in the United Kingdom and Ireland. Meanwhile, Company also considers establishing in-depth cooperation with various department store channels, allowing itself to leverage on their retail platforms to further develop the Hamleys' brand and at the same time expand the department store's product offerings through the introduction of toys and children's products to strengthen its competitive advantages of retail channels and diversify its businesses to shape C.banner as an international integrated retailer with multi-brands portfolio."

Sectors: Daily News