C.banner Proposes to Acquire World-renowned Retailer of High-end Toys

Thursday, 22 October 2015, 23:08 HKT/SGT

Strengthen the Competitive Advantages of Retail Channels Implement the Global Branding Strategy

HONG KONG, Oct 22, 2015 - (ACN Newswire) - C.banner International Holdings Limited ("C.banner" or the "Company", together with its subsidiaries, the "Group", stock code: 1028), the leading retailer of middle-to-high-end women's formal and leisure footwear in the PRC, is pleased to announce that Company is in discussion with Ludendo Entreprisies SAS ("Ludendo Group") regarding a proposed acquisition of the entire issued share capital of Ludendo Enterprised UK Limited ("Ludendo UK"). The discussion between both parties in relation to the proposed acquisition has reached the final stage of negotiation and it is expected the official legally binding document will be signed soon. If the acquisition complete smoothly, Ludendo UK will become a wholly-owned subsidiary of the Company. Ludendo UK owns Hamleys ("Hamleys"), a global leading high-end toys retailer brand, and Hamleys owns the largest toy shop, which is located in UK, in the world.

C.banner Proposes to Acquire World-renowned Retailer of High-end Toys - Hamleys of London

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. The Company is highly reputable for its multi-brands strategy, diversified product portfolio and brand values of elegance, charm and vogue in the market. Mr. Chen Yixi, Chairman of C.banner remarked, "The Company plans to implement a new global branding strategy and we are glad to have the opportunity to discuss with Ludendo Group regarding the proposed acquisition. If the acquisition goes smooth, it will mark the Company's first important step to implement global branding strategy. Company could also leverage on the brand recognition effect of world-renowned brands - Hamleys, to further strengthen the competitive advantages of retail channels and provide scenario consumption experience.

To further implement the global branding strategy, C.banner will fully leverage its position and experience in the retail industry and plan to expand its business with a focus on retail industry and retail channels through the addition of Hamleys brand. Company may consider establishing in-depth cooperation with various department stores in terms of leveraging their retail platforms to further develop Hamleys brand and introducing toys and children products to extend the product categories at the same time. C.banner is exploring different possible options for a strategic business partnership with House of Fraser, a leading premium department store in the United Kingdom and Ireland.

Mr. Chen concluded, "In respect of marketing and product sales, a strong brand is an outstanding resource. Acquisition of a world-renowned brand could greatly enhance the Company's competitive advantages. C.banner will explore areas of cooperation among the respective existing business with Hamleys to achieve greater synergy, therefore enhancing the strengths and profitability of the Company. Looking forward, Company will continue to explore business opportunities inside and outside the PRC by mergers and acquisition, strategic cooperation as well as establishing other business relationships with leading retailer brands, which help to take a further step of implementing its global branding strategy, strengthening of competitive advantages of retail channels and enriching scenario consumption experience to shape C.banner as an international retail group."

Topic: Press release summary Sectors: Daily News
https://www.acnnewswire.com
From the Asia Corporate News Network