Jiuding Capital Invested in Women's Wear, Foraying into the Fashion Market
2009-12-20
Jiuding Capital who shot into fame with the investment of Gifore Agricultural, the No. 1stock of GEM, has new moves. On December 20th, it announced its investment of up to 50 million yuan in a female fashion enterprise and marched into the fashion market.
It is known that Zhuhai Wiseman Fashion Co., Ltd. featuring fashion female garments and sweaters, is the target here. Its main business and influence is the Pearl River Delta and hasn’t expanded to North China etc. It produces more than 6 million sweaters annually and owns over 400 chain enterprises with an annual sale totaling 400 million yuan.
Qiuhe XIE, chairman of Wiseman, shared with money.163.com: “Wiseman, established in 1987, has had a history of over 20 years. Its biggest characteristic is stable yet slow growth every year. We hope that the introduction of Jiuding Capital as our strategic partner will speed up the development of company.”
He also told money.163.com that Wiseman has been preparing for IPO and has developed two proposals, hoping to be listed on the SME or GEM. “80% of the 50 million yuan Jiuding Capital invested and the capital raised through IPO in the following year shall be used in the construction of distribution network. We plan to increase 300 outlets in East China and North China and develop Wiseman nationwide into a leading female garment fashion brand in China.”
Investing female fashion market for the first time, Mr. Xiaojie HUANG, investment executive director of Jiuding Capital explained why: “We are optimistic of the consumption upgrading industries. Females at the age range from 25 to 35 have a strong purchasing ability. With the arrival of the age of capital boosting native fashion brand, I think there will be a few strong local female garment fashion brands in China.
However, Mr. Xiaojie HUANG refused to reveal the number of stakes Jiuding Capital would have with the investment of 50 million yuaan and said: “You would see it in the Prospectus if the IPO is successful.” “If good garment enterprise shows up, it’s still likely that we would invest. But for female garment, Wiseman is the one and it shall benefit us if it’s growing larger and stronger.” He added.