HK handbag chain buys e-store
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Hong Kong listed handbag retailer Milan Station Holdings has acquired online retailer Chaodai.
Milan Station’s parent companies Standpoint and J&C will form a new entity to acquire Chaodai which will then trade under the Milan Station branding. As with their ownership of Milan Station, the two companies will hold 90 per cent equity and 10 per cent respectively.
“The parties… intend that through the acquisition and the proposed increase in capital, Chaodai will become well positioned in terms of financial and human resources and wider business networks to explore the cross-border online business under the brand name and the trademark of “Milan Station” for better return on their investments,” the company said in a regulatory filing to the Hong Kong Stock Exchange.
Milan Station had already revealed plans to expand its retail points in the Hong Kong’s ‘clubhouses’ due to booming sales.
It plans to expand its store network in Macau from six to 10 to further increase sales.
Questions & Answers
Q.Which companies are acquiring Chaodai?
Which companies are acquiring Chaodai?
Milan Station's parent companies, Standpoint and J&C, will form a new entity to acquire Chaodai. They will hold 90 per cent and 10 per cent equity respectively, similar to their ownership of Milan Station.
Q.What is the purpose of this acquisition?
What is the purpose of this acquisition?
The acquisition aims to position Chaodai well with financial and human resources, and broader business networks. This will allow it to explore cross-border online business under the Milan Station brand for better returns.
Q.How will Chaodai operate after the acquisition?
How will Chaodai operate after the acquisition?
Chaodai will trade under the Milan Station branding. The acquisition is intended to use the Milan Station brand and trademark for cross-border online business expansion.
Q.What other expansion plans does Milan Station have?
What other expansion plans does Milan Station have?
Milan Station plans to expand its retail points in Hong Kong's 'clubhouses' and increase its store network in Macau. They aim to grow the Macau network from six to 10 stores to boost sales.
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