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In Order To Reduce The Operation Risk, SEMAR Clothing Plans To Separate The French Children'S Clothing Brand Kidiliz

2020/7/22 14:45:00 2

Semir ApparelSemir GroupKidilizFrench Brand

On July 21, Zhejiang SEMAR Clothing Co., Ltd. (hereinafter referred to as "SEMAR clothing") announced that it planned to sell its wholly-owned subsidiary sofiza sas to the company's shareholder, SEMAR Group Co., Ltd. (hereinafter referred to as "SEMAR group") For all assets and businesses, there is significant uncertainty in this transaction because the specific selling price and trading time are not determined.

According to the announcement, sofiza SAS was established on December 16, 2005. Its main shareholder is Semir kg holding s. à R.L. (with a shareholding ratio of 100%), and owns all the shares of the kidiliz group.

In 2018, through its wholly-owned subsidiary, SEMAR International Group (Hong Kong), SEMAR clothing acquired all the equity and creditor's rights of sofiza SAS with 110 million euro (about 844 million yuan), so as to acquire all the assets of kidiliz group. It has successfully introduced its CATIMINI and absorba brands into the Chinese market, and successively opened flagship stores in key cities and tmall platform.

According to the public information, kidiliz group is a European medium and high-end children's wear group. There are 8 subsidiaries in the world, with 11000 sales outlets and 829 stores. It has 10 own children's wear brands and 5 authorized business brands reflecting the current fashion trend. Its main business includes Z brand, absorba brand, catmini brand, kidiliz multi brand collection store and authorized brand (mainly As well as other businesses, such as junior, kenys, and other businesses.

It is reported that the acquisition of kidiliz group by SEMA aims to complement the existing children's wear brand Balabala, further expand the children's clothing layout, and accelerate the global layout.

In recent two years, SEMAR clothing has integrated the business of kidiliz group in terms of operation, and actively carried out work from the aspects of organization and personnel, financial management and control, business development, cultural integration and other aspects, so as to promote the coordinated development of domestic and overseas business. However, due to the continuous economic downturn in Europe, the revenue of the main brand business of the kidiliz group has continued to decline, and the number of stores has decreased year by year, and the main business has a serious loss, and the loss is increasing. Especially after the global outbreak of new crown pneumonia, kidiliz group's main business areas, France and Italy, as well as the whole European market economy suffered great losses, which had a far-reaching impact and further enlarged the business risk, which had a negative impact on the performance of SEMAR clothing and brought significant uncertainty to the company's future business performance. In order to avoid the continuous adverse impact of the business on the company's performance, semma clothing intends to sell the assets and business.

According to the latest announcement, the revenue of sofiza SAS in the fourth quarter of 2018, in 2019 and from January to march of 2020 is RMB 795 million, RMB 3.024 billion and RMB 560 million respectively, and the total profit is RMB - 48.84 million, - 307 million and - 121 million respectively.

SEMAR apparel said that through the sale of its subsidiaries, SEMAR apparel realized the divestiture of the assets and business of the kidiliz group, which is conducive to reducing the company's operational risk and avoiding greater losses to the company's performance.

However, it should be noted that the trading partner of the subsidiary to be sold by SEMAR clothing this time is the SEMAR group, which means that after the transaction is completed, there is horizontal competition between SEMAR group and its own children's clothing business of the listed company. In this regard, SEMAR group undertakes that the purpose of this transaction is to reduce the company's operational risk, and not for the purpose of competition. During the period of SEMAR group holding the equity of the underlying assets, the underlying assets will not carry out new business or expand the original business in China; although there is no real horizontal competition, within one year from the date of completion of this transaction, SEMAR group will dissolve No potential competition in the same industry.

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