Net Profit Rose 25.9%; Turkey Luxury Goods Were Cheap; On Saturday, It Was Expected To Buy A 89% Stake In The Network; Muji Sixth Times.

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Net profit increased 25.9%

In August 13th, China Limited released its unaudited consolidated performance report on its Affiliated Companies (collectively known as the "Li Lang group") for the six months ended June 30, 2018.

The report shows that in the first half of the year, the group achieved double growth in revenue and net profit.

In the first half of the year, the income of the group was 1 billion 293 million yuan, an increase of 26.5% over the same period last year, and net profit of 341 million yuan, an increase of 25.9% over the same period last year.

Luxury goods in Turkey are cheap

The collapse of Turkey's lira in the past week has led to turmoil in the luxury industry in the country. The luxury stores in Turkey have to urgently raise their prices in order to prevent investors from losing money due to exchange rate turbulence.

In the case of Turkey's Lila slump, Turkey has become the cheapest place to buy luxury goods globally. According to Bloomberg, Chanel's classic Chanel camera bag sells for 18500 lira in Turkey, about $2877, while the sale price of the product in its European official website is equivalent to $3700 in Chanel.

Saturday intends to acquire 89% stake in Wang Wang Network

On Saturday, we gradually stripped the footwear industry assets and proposed a 1 billion 788 million yuan acquisition of Hangzhou's 89% stake in the Network Inc (hereinafter referred to as the "Horizon network") to improve the layout of the Internet marketing.

According to the restructuring plan announced yesterday evening, on Saturday, it intends to purchase 89.4% stake in Xie Rudong's 13 natural person shareholders and Hangzhou honeycomb 18 institutional shareholders by issuing shares and paying cash.

After consultations among the parties, the initial price of 89.4% shares was 1 billion 788 million yuan.

MUJI sixth price cuts

Liang Yijia, managing director of MUJI MUJI Taiwan, released yesterday that the new price of new products this autumn and winter will cut new prices for more than 400 items of clothing, furniture, daily necessities, fragrances and stationery, with an average decrease of about 15%, which is also the sixth price adjustment of Muji since 2015.

Liang Yijia pointed out that unlike previous price strategies, the sale of products including underwear, French flannel and so on will be adjusted to meet consumer demand.

Lee parent company wants to divestiture the denim business.

In August 13th, it was reported that Lee group, the American sportswear group, was interested in stripping down its declining cowboy businesses, including brands like Lee and Wrangler.

In this regard, the Beijing Commercial Daily reporter contacted the group of Wei Fu Group in Beijing, Shanghai and Guangzhou, but at the end of the press release, the other side did not reply.