Agge Was Privatized By Major Shareholders To Withdraw From The Market.

According to the world clothing shoes and hats net, France

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Retailer ETAM D e veloppement SCA (TAM.PA) AGG announced on Friday that the privatization of Finora Finora and the concerted action would be passed so that the company would withdraw from the market.

At the beginning of June, the Milchior family's Finora joint Tarica and Lindemann two families announced the privatization of ETAM D e veloppement SCA at the price of 49.3 euros per share, compared with the previous day, the closing price of the company was 32.51 euro with a premium of 53.8%.

Since the three largest families have a total shareholding of ETAM D e veloppement SCA SCA and a 97.92% voting right, the acquisition can be forced to withdraw if ETAM D SCA veloppement is approved by the French financial market authority.

According to the statement on Friday, the Milchior family owned a total of ETAM D e veloppement SCA 64.64% shares and 64.77% vote votes, of which 44.49% was owned by Finora, and 15.65% and 15.99% of the Tarica family and Lindemann family respectively, while the external shareholders only held 3.72% or 267143 shares.

The board of supervisors of ETAM D veloppement SC said that, in view of the fact that the offeror and the operator had been holding the company in practice, it would not affect the employment and labor relations of the company. Therefore, it was suggested that the public shareholders should sell their shares to the offeror.

ETAM, founded in 1916, was founded by Max Lindemann in Germany. Its initial business is underwear and socks.

Rapidly expanding to other major European countries, and the company's growth and development mainly depended on the French Martin Milchior. He bought 21 stores in 1933 and established Soci e t des Etablissements Milchior, while establishing factories in Lille, France. In 1958, two people merged the business and eventually established ETAM brand.

ETAM has always been in the forefront of the times, taking every trend from feminist style to pornographic style, while in 1980 and 90s, it is good at inventory management.

In 1994, ETAM entered the Chinese market. This is the turning point of the brand. Subsequently, the Chinese market became the largest market of the group. More importantly, the mode of integration of acquisition, sale and marketing adopted by the Chinese brand became the customary mode of international brand in the Chinese market.

But at the same time, brands in Europe's UK and Italy markets suffered setbacks.

In the ups and downs, the real fall of ETAM began in the financial crisis. Not only did the development of the European market become unbalanced, but also the serious impact of the new fast fashion brands H&M and Zara, and the barriers to the establishment of the Chinese market were also broken by the radical expansion of the international brand in the Chinese market.

Therefore, it can be said that the Chinese market is the most successful market for ETAM international expansion, and its decline in the past 10 years is also due to the rapid change of consumers' tastes and the broadened vision in the Chinese market.

By the end of the first quarter of March, the ETAM market did not improve, but worsened. During the period, China's market plummeted 23.9% to 93 million euros, a decrease of 21.5% compared with that of the European market, while sales in Europe increased 2.1% to 231 million 600 thousand euros, but sales fell 2.8%.

In the year of 2016, ETAM sales recorded 1 billion 292 million 100 thousand euros, a decrease of 0.3% compared with 1 billion 296 million 600 thousand in 2015, a decrease of 1% compared with sales.

The decline in sales was mainly due to the downturn in the Chinese market, which resulted in a 12.3% drop in Chinese sales throughout the year, from 417 million 300 thousand euros to 365 million 900 thousand euros, especially in the two or three quarter. The annual sales in the European market increased 5.3% to 926 million 200 thousand euros, and in 2015, it was 879 million 200 thousand euros, an increase of 1.7%.

The Chinese market, which accounts for more than 50% of the stores, closed 281 stores in 2016, accounting for about 10% of the Chinese market. By the end of 2016, the number of ETAM stores in China was reduced from 2877 in 2015 to 2596, and the number of European market stores increased from 945 to 988.

By the end of 2016, the group had operated 3906 stores and closed 192 rooms.

In 2016, the group's Chinese market lost 19 million 400 thousand euros, an increase of 162.3% compared with the 7 million 400 thousand euro operating loss in 2015, while operating profit in the European market rose 14.3% to 68 million 300 thousand euros in the same period.

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