Another Clothing Group Is Leaving China. This Is The Turn To Korea Companies.

Following the withdrawal of ASOS, Marsha, New Look, Topshop\Topman, Forever 21, American Eagle and many other brands, this trend continues. TBH Global Co. Ltd. (KR:084870), a clothing retailer in South Korea, plans to sell its Chinese business to ease its debt.

Bloomberg quoted news that its TBH Global Co. Ltd., which owns Basic House 100 good, Mind Bridge and Jucy Judy, hopes to raise $200 million through the spanaction, but informed sources said that negotiations with potential buyers such as apparel and private Holdings Company are still at an early stage. The group's speakers are looking for ways to finance debt repayment, including the sale of business.

TBH Global Co. Ltd. (KR:084870) surged up to 29.9% to 3410 won on Friday, the biggest increase since December 2005. The stock market has recorded a 52.5% decline in the past 12 months.

TBH Global Co. Ltd. was founded in 1964 by the Il Heung chamber of Commerce, an underwear wholesale and retail store. The group launched its first independent brand Basic House in 2000, and opened its first brand store in Shanghai in 2004. In 2005, TBH Global Co. Ltd. landed on the ROK exchange. Its revenue exceeded 160 billion won (about 950 million yuan). A year later, the group introduced Goldman Sachs Group Inc. Goldman Sachs.

According to the 2018 financial report, TBH Global Co. Ltd. achieved an annual revenue of 208 billion 800 million won (about 1 billion 240 million yuan), an increase of 20% over the same period last year, and a net loss of 57 billion 700 million won (about 340 million yuan).