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    Interview With Guo Guangchang, China'S Richest Man, CCTV Interview Prada

    2016/9/18 9:59:00 89

    China'S Richest Guo GuangchangPradaFashion IndustryCCTV CCTV

    Guo Guangchang, China's richest man

    CCTV CCTV

    In the latest issue of the dialogue, Italy's luxury group Prada SpA 1913.HK (1913.HK), however, was unsuccessful when it entered the fashion industry.

    Taking time to reckon, Guo Guangchang's star system is trying to acquire Prada SpA Prada group before it goes public.

    In May 2011, Fosun Group invested in Folli Follie SA (HDFr.AT), a Greek Jewelry Group. In June 24th, the Prada SpA Prada group landed on the main board of the Hongkong stock exchange. Then, with the help of this springboard and the "devil wears Prada" and the "killer bag" of explosive money, it became the most popular luxury group at that time, especially in the Chinese market.

    At that time, China's economy was still growing rapidly, and the rapidly growing rich and middle class demand for luxury goods. For this reason, a large number of fashion brands landed at the HKEx to try to attract Chinese consumers.

    Fosun Group also began investing heavily in the market brand in 2011.

    In 2014, in an interview with the October special issue of Bloomberg Markets, the most influential 50 person list of the global economy, Guo Guangchang said that the company's goal is to raise the living standard of the middle class in China, "we all thought better."

    He said the goal of Fosun Group's acquisition is to cater for the needs of the increasingly prosperous middle class lifestyle. The acquisition of Fosun Group covers insurance, food, retail and many other industries.

    According to Bloomberg data, Fosun Group's external investment accounts for 1% of the total foreign investment of Chinese enterprises in the past 5 years.

    Over the past 5 years, Fuxing Group's investment and acquisition of fashion brands include: American women's clothing brand St. John Knits Inc. (paction details are unclear); Greek jewelry brand Folli Follie SA (FFGRP.GA) 9.5% stake; Italy high-end men's wear brand Raffaele Caruso SpA SpA shares (reportedly not more than 5 million euros); Germany casual wear brand brand management buyout.

    Brand retailer

    Tom Tailor Holding AG (TTI.DE) 23.16% shares; Israel's top Dead Sea mineral skincare brand AHAVA Dead Sea Laboratories Ltd. (wholly-owned, Israel Xin Xie Kerr 290 million yuan, or about 496 million yuan); French fashion brand Laboratories (60% stake, paction price estimate of 78 million euros).

    In addition to the above trading brands, Fosun Group has also participated in bidding for Gianni Versace SpA, Versace group.

    In the "dialogue" column, Guo Guangchang also revealed that the company had tried to invest in the Italy down brand Moncler SpA (MONC.MI), which was listed at the Milan stock exchange in Italy at the end of 2013.

    Now let's give Guo Guangchang another chance. Will he invest in Prada SpA Prada? The answer is probably no. because Prada SpA Prada is already in the open market, and the current stock price is very low.

    In fact, Prada SpA Prada has only been a sight after landing at the HKEx.

    Shortly after the listing, the Chinese media "Economic Observer" exposes the lies made by Prada Prada "made in Italy". There are a lot of jokes on the quality of Prada Prada, which are most unsatisfactory to the social media. Besides, the popularity of the brand does not match its high price and the downward trend of China's economy. Prada Prada's namesake group has become the worst performance in the past two years.

    Luxury goods

    Group.

    According to the website data, in the first half of July 31, 2016, the revenue of Prada SpA Prada group fell 14.8%, from 1 billion 824 million 400 thousand euros in the same period last year to 15.542 billion euros, and net profit fell 24.7%, from 188 million 600 thousand euros in the same period last year to 1.419 billion euros.

    Sales in all markets, all brands and all categories of the Group recorded a sharp decline. As the group's most important big China market, revenues plunged 24.4% to 278 million 700 thousand euros and 21% at fixed exchange rates.

    If Guo Guangchang does not invest in Prada SpA Prada now, will Miuccia Prada and her Patrizio Bertelli husband and wife regret not introducing Fosun Group?


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