Nine Mu Wang Invested 76 Million 500 Thousand Investment To Sign An Agreement With Kitsune.

According to the world clothing shoes and hats net, in February 18th,

The Limited by Share Ltd (hereinafter referred to as "nine herd king") announced that it invested 76 million 500 thousand yuan to invest in fox (China) Co., Ltd. (hereinafter referred to as "joint venture", with the specific name approved by the industry and Commerce Department).

According to the announcement, in February 15th, nine Mu Wang and Kitsune France (hereinafter referred to as "Kitsune") signed the "shareholder cooperation agreement" (hereinafter referred to as the "agreement"), to jointly invest in the establishment of a joint venture -- fox (China) Limited (the specific name is approved by the Ministry of Commerce and industry).

Nine Mu Wang and Kitsune (hereinafter referred to as the "two sides") intend to play their own advantages and jointly invest in the establishment of a joint venture company to carry out "Maison Kitsun e" brand and "Kitsun e" brand in mainland China, Hongkong and Macao area (hereinafter referred to as "operation area").

The business of accessories, bags, cosmetics and perfume products.

Nine Mu Wang intends to invest 76 million 500 thousand yuan in cash and hold 50% stake in the joint venture company. Kitsune 2 is intended to include, but not limited to, clothing, accessories, etc. in the operating area.

In addition to coffee, perfume and cosmetics, the ownership of the trade marks is 50% of the equity interest of the joint venture.

According to public information, Kitsune France was founded in Paris, France. Its business nature is Soci e t e par actions simplifi e e (SAS), with a registered address of 52 Rue de Richelieu, 75001, and Soci. The legal representative is a person with a registered capital of 289604 euros. The main business is clothing sales.

The Kitsun e brand was founded in 2002 in Paris, France. It includes three major series: seasonal Maison Kitsun e, classic Paris style Maison Kitsun Parisien, and ACIDE Maison Kitsun Kitsun of neutral art design.

Maison Kitsun brand has 17 separate stores in France, Japan, the United States, Korea and Hongkong, China, and more than 400 retail outlets in London, Copenhagen, Losangeles, Sydney, Tokyo and Hongkong, as well as Endclothing, Matches Fashion and Ssense.

As of March 31, 2018, the total assets of Kitsune France amounted to 14 million 447 thousand and 800 euros, with a net asset value of 4 million 680 thousand and 200 euros. The operating income in the latest financial year ending March 31, 2018 was 18 million 312 thousand and 700 euros and net profit was 953 thousand and 500 euros.

According to the latest earnings report of the nine year old king, nine Mu Wang, the first half of 2018, achieved business income of 1 billion 260 million yuan, an increase of 10.7% over the same period last year, operating profit of 330 million yuan, an increase of 18% over the same period last year, a total profit of 330 million yuan, an increase of 18.5% over the same period last year, and a net profit of 260 million yuan, representing a 17.1% increase over the same period last year. The net profit after deducting non recurring gains and losses was 250 million yuan, an increase of 13.4% over the same period last year.

The announcement shows that the new investment of fox (China) Limited (the name of which is approved by industry and Commerce) is Lin Congying, whose business scope mainly includes clothing, shoes and hats, garment accessories, fiber products, needle textiles, leather bags, cosmetics, daily general merchandise wholesale and retail, import and export, and provides related supporting services.

King Mu also pointed out that the main purpose of establishing a joint venture is to carry out the business activities of "Maison Kitsun" brand and "Kitsun e" brand clothing, accessories, bags, perfume and cosmetics in mainland China, Hongkong and Macao.

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