Yu Garden Shares Join Hands With Fosun International To Acquire Tom Tailor Holding SE

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In February 27th, it announced that it intended to unite.

Co investment to acquire Tom Tailor Holding SE (hereafter referred to as Tom Tailor) adds another member to China's capital overseas fashion acquisition force.

Tom Tailor, headquartered in Hamburg, Germany, is now listed in Frankfurt, Germany.

The company was founded in 1962. The group has two Tom Tailor and Bonita owners.

Locate the middle gear.

At present, Tom Tailor has 453 retail outlets and 185 franchised stores, 2510 counters and 7082 multi brand outlets worldwide.

Bonita has 772 retail outlets and 82 shopping malls.

The group also attaches great importance to markets such as Austria, Switzerland, Southeast Europe and Russia.

Tom Tailor has 1/3 revenue from outside Germany, and retail self business accounts for about 62% of the company's total revenue. Wholesale business revenue accounts for about 38% of the company's overall revenue.

In the course of its business development, cooperation between Tom Tailor and Fosun Group has also been ongoing for many years.

In 2014, Fosun Group bought the German brand. Around November 2015, Tom Tailor opened its flagship store with the support of Fosun Group, which is located in Hongqiao Tiandi shopping center in Shanghai, with a total area of 540 square meters.

At the same time, Tom Tailor is gradually shifting its strategic focus from Europe to China, to the fast fashion brands such as Zara and H&M.

But initially, it hopes to rapidly develop its business in China through a high proportion of franchisees. Tom Tailor Grou CEO Dieter Holzer told the twenty-first Century Economic Journal in 2015: "China is faced with a comprehensive upgrade of the middle class lifestyle, a rich product line, rapid response to the trend and cost-effective is the consistent strategy of the brand.

The company is confident not only in the second tier market, but also in the three or four line market.

According to the world clothing and shoe net, as of the announcement date, Fosun international directly holds about 9 million 366 thousand and 200 shares of Tom Tailor Fidelidade, corresponding to its 22.12% shares; Fuxing international indirect subsidiary Fidelidade -Companhia de Se-guros, S.A (Fidelity Insurance Company Limited, hereinafter referred to as "Fidelidade") holds Tom Tailor about 4 million 36 thousand and 700 shares, corresponding to its 9.53% shares; the wholly owned subsidiary of Fidelidade has a share of about 10 million shares, corresponding to its 3.70% shares.

Fosun international owns a total of Tom Tailor 35.35% directly and indirectly.

In February 19, 2019, Fosun International announced that it would increase capital for Tom Tailor, which increased the proportion of direct and indirect holdings of Tom Tailor to Fosun international from 28.89% to 35.35%.

Meanwhile, Fosun international has decided to offer a voluntary takeover offer to shareholders of Tom Tailor, to acquire all Tom Tailor shares that are not directly owned by Fosun international.

In February 26, 2019, the German federal financial regulatory authority (BaFin) approved the reply, and Fosun International announced that the weighted average stock price of Tom Tailor shares in the local stock market was 2.31 euros in the first three months of the decision to make a voluntary takeover offer.

Therefore, the proposed offer price is 2.31 euros.

In February 27, 2019, at the thirty-second meeting of the ninth board of directors of Yu Garden, the thirty-second session of the board of directors of the Shanghai stock exchange examined and adopted the related pactions bill of Limited by Share Ltd, the Yu Garden tourist mall Limited by Share Ltd, on the acquisition of Tom Tailor equity project. Based on the consideration of the development strategy and financial status, the company decided to participate in the above offer as an investor, and signed a paction agreement with Fosun international. According to the above offer price, the largest investment in the acquisition of Tom Tailor shares is 29.99%, which is limited to about 12 million 703 thousand and 400 shares of Tom Tailor shares.

At the moment, just beginning in 2019, the acquisition of Chinese capital is continuing.

In 2018, international brands such as Bally, Lanvin, Wolford and Carven came to the Chinese capital.

This is a dual choice for European brands to be optimistic about China's capital and market, and to optimize the investment portfolio and seek opportunities for pformation and upgrading.

Through mergers and acquisitions, Chinese enterprises can be pformed into multi brand groups, which is conducive to multi brand layout to resist diverse market risks.

The acquisition is also an important measure for the pformation and upgrading of Yu Garden shares.

In January 3, 2017, Fuxing's real estate business was charged 25 billion 800 million yuan into Yu Garden shares, becoming an important partner to help Yu Garden to complete major asset restructuring.

And the intersection between the two began in 2001. In those days, by becoming the first big share of the Yu Garden Mall (the predecessor of Yu Garden shares), the real estate business of Fosun has been further expanded.

According to the announcement of Yu Garden shares, the company intends to implement the two wheel drive of "industrial operation + industrial investment", adhering to the concept of happiness and fashion, and continuously constructing the Trinity strategy of "happy fashion industry + offline fashion landmark + online happy and stylish family entrance", and investing and optimizing resources for emerging middle class consumers.

The Yu Garden, which owns the travel landmark and shopping mall, coincides with the investment direction of Fosun Group in recent years.

In 2015, Fosun set up a fashion group. The investment expected is for middle-class families and middle and high net worth people, and they said they would follow up all the "happy" investments.

With the successful acquisition of many brands such as Lanvin in recent years, its demand for new brands coming into China is also increasing.

In February 21st this year, Fosun fashion group announced the establishment of FFBM, a company that specializes in brand expansion in China, including retail sales and wholesale, sales, marketing and communication, human capital and complete post stage support.

It is reported that FFBM's team has over 15 years of operation experience in China.

Cheng Yun, chairman of Fosun fashion group, said that the establishment of FFBM is an important milestone in the development of the group. "FFBM can help Fosun control its brand performance maximally, and overseas brands can also add value to the Chinese market."

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