Fashion
Miss Sixty parent in Asia, Chinese fashion house Trendy International Group, is planning a domestic initial public offering, probably by the end of next year.
The Guangzhou-based company hopes to achieve a valuation of about US$5 billion before selling an undisclosed stake, insiders say. Trendy International will join other Chinese clothing retailers such as Modern Avenue Group, owner of the Canudilo brand, and Shanghai La Chapelle Fashion in funding expansion by selling shares.
Altogether, 25 apparel companies have held IPOs in China and Hong Kong during the past three years, raising a combined $2.2 billion, according to Bloomberg.
Investment firm L Capital Asia, backed by French luxury group LVMH, bought a minority stake, estimated at about 10 per cent, in Trendy International for nearly $200 million in 2011.
Founded in 1999, Trendy International owns women’s brands Five Plus and Ochirly as well as male casualwear line Trendiano. It later acquired the Asian business of Miss Sixty, known for its skin-tight retro jeans, as well as the Energie and Killah denim brands.
The fashion group has more than 3000 shops, and last year set up a joint venture with UK clothing chain SuperGroup to introduce its Superdry brand into China.
