YGM Trade Will Be Sold At 930 Million HK Dollars.

Ltd is a Hong Kong listed companies, producing Hongkong brand garments.

YGM trade has also been developing franchised businesses and developing internationally renowned brands while developing Garment Retailing and wholesale businesses.

The YGM trade was announced last night, and it entered into a memorandum of understanding with two independent third parties. It plans to sell the manufacturing and marketing business and related intellectual property rights of Aquascutum's brand products. It involves a paction amount of US $120 million, or HK $930 million, and the selling price is up or down to no more than 5 million US dollars.

YGM trade was bought at 15 million pounds (about HK $188 million) in 2012.

Business and assets become the global controller of the brand.

YGM is mainly engaged in retail and wholesale brand clothing, leather goods and accessories. It has MICHEL RENE, RENE, Guy, Laroche, Charles Jourdan Zhuo Dan, American brand Ashworth, and Sweden brand J.Lindeberg.

With the British referendum deciding to leave the European Union, the political and economic shocks that are affecting the luxury market in the UK and around the world are facing more uncertainty than the British luxury brand, Burberry, who is once known as the British luxury brand.

The Burberry is just like the twin brothers.

Similarly, the windbreaker has been made so well, but in recent years, the performance has been in a predicament.

Founded in 1851.

It is a symbol of fashion classics.

In early twentieth Century, he successfully invented a windproof and rain proof fabric, namely nylon and blended cotton fabric, which resists wind speed and resistance at 100 km / h.

Affected by the weakness of the fashion retail market in the Greater China region, the sales of yatso Dan in the Greater China region dropped by 24.7% last year, and the YGM trade staff of its parent company decreased by 300. Yatso Dan is the most important clothing business of YGM. Last year, 29 stores were closed, and 27 of them were closed in mainland China. The group said it would face a difficult market environment in the Greater China region in the coming years.

According to the fashion headline data, by the end of the 12 months of March, YGM trade lost 87 million 871 thousand yuan from profit to profit, 81 million 95 thousand yuan in the same period last year, 18.7% yuan in turnover, 18.7% yuan in the same period last year, gross profit fell 23.6% to 525 million yuan in the same period, and gross gross profit margin decreased from 62.5% in the same period last year to 58.7%.

Among them, the sales volume of garment sales dropped by 19.8% to HK $775 million 930 thousand, a loss of $92 million 798 thousand and a profit of 35 million 505 thousand yuan in the same period last year.

YGM trade has the global trademark rights of Guy Laroche and apple. Last year, the revenue from concessionary trademarks dropped by 10.1% to 74 million 417 thousand yuan.

The sale of retail and wholesale business in the UK last year rose 23.8% to 12 million 222 thousand, but it is still losing money.

At the end of March this year, YGM Trade issued a profit warning, pointing out that the retail market of the company's business has shrunk, especially in the Hongkong and Mainland China markets, leading to a marked decline in the retail sales and wholesale sales of clothing, leather goods and clothing, and the high rental of shops and other occupancy expenses are still being suppressed.

In order to offset losses and increase cash flows, in August of this year, YGM trade sold third yuan to independent companies in Hongkong, Kowloon, and cash in 66 million 800 thousand yuan.

Before yesterday's news release, YGM trading shares fell 2% to HK $3.93 per share, and the share price has dropped 26% this year, with a market value of HK $652 million.

For the uncertainty of Britain's luxury brand brought to Europe, analysts say that the brand needs to adapt to the economic, political and consumer changes brought about by Britain's de Europe, but one thing is for sure: British luxury brands should now focus on the brand's own tradition and technology than before, in order to stand out in the fierce competition.