Hembly Hengbaoli acquires European and American premium brand Sergio Tacchini

The owner of Hong Kong-listed company Hembly Hengli (3989), Yuexin Xin, completed the acquisition of Italian brand Sergio Tacchini for 27 million euros. This is the first Chinese person to have a high-end European and American brand.

Sergio Tacchini is an Italian tennis player, the same name brand was founded in 1966 and succeeded in Italy and France. However, in recent years, with the fierce competition in the sportswear market, the Sergio Tacchini brand has fallen into losses and declared bankruptcy last year, which is exactly what gave Hembly Hengbaoli, the former supplier of Sergio Tacchini.

In fact, since Hembly is a listed company and Sergio Tacchini is still in a loss state, in order not to affect the listed company's statements, this acquisition was completed by Hembly Hengbao Li Yuexin, and he reduced it. The company shares held to raise funds.

Yue Xinyi plans to invest a further 33 million Euros in the Sergio Tacchini brand, introduce the brand to China in 2009, and open 200 stores in the next three years. It is expected that by 2012 one-third of Sergio Tacchini’s revenue will come from China.

About Hembly Hengbaoli Group

Hembly International was established in 2000 and listed on the Hong Kong Stock Exchange in 2006. The company's main business is garment supply chain service providers. Hembly launched the distribution and retail business of apparel products in 2002. The Group formed joint ventures with Stonefly, Lotto and Sisley, and opened retail stores in China. In addition, Hembly Hengbao also purchased Moschino SpA's exclusive distribution rights in mainland China for ten years at a price of 10 million yuan.