Domestic Fashion Retailer BELLE International Will Split Sportswear Business To Hong Kong

According to recent reports, the domestic fashion retailer Belle International Holdings Ltd (hereinafter referred to as BELLE International) will split the sports apparel business on the market, and invite investment business organization Bank of America Merrill Lynch (BAML) to help the United States Merrill Lynch to Hong Kong IPO, and plan to raise about $1 billion.

It is reported that BELLE International aims to increase the value of its agent sales department including Nike Nike and Adidas Adidas to 20 billion (US $2 billion 550 million) to HK $25 billion.

According to market research firm Ou Rui information consultation, the value of China's sportswear market will increase from 40 billion dollars last year to 58 billion US dollars in 2023, while BELLE international currently has a 6.7% share in China's clothing and footwear retail market.

In addition, the president of BELLE international footwear business and President of the new business division has said that the profit and sales of the company's sports business in the 2018 fiscal year are expected to exceed 20%.

You know, BELLE international was listed on the Hongkong stock exchange in 2007. At 16 p.m. on July 27, 2017, BELLE International announced its privatization.

It is understood that when the traditional retailers and online sales are in full swing, BAML suggests that the consortium led by Hillhouse Capital Group and CDH Investments will privatize BELLE international at a price of US $6 billion 800 million.

In response, BELLE International said that high tech capital invested by Chinese technology companies such as Tencent and Jingdong (US JD) held 57.6% of its shares after the privatization of the company, with 11.9% of CDH investment and 30.5% of BELLE's managers.

Up to now, BELLE international has not only 12 Belle shoe brands, such as BELLE, Teenmix Teenmix, Tata, Staccato, Staccato, etc.

It also represented Nike Nike, Adidas Adidas, Puma Puma, Converse CONVERSE and other sports brands and Moussy Mose, SLY and other tide shoe sales business.

By the end of February 2017, BELLE international had 20716 sales outlets, including 13062 footwear and 7654 sportswear and clothing stores.

At present, BELLE international has not given any response to this. Meanwhile, Meilin Merrill Lynch, BELLE International's current shareholder, Gao Ling capital and CDH investment also declined to comment.