Singer Intends To Acquire 35% Stake In Shanglin, Qianhai, 242 Million

Shenzhen's Limited by Share Ltd has announced the purchase of assets, announcing that it will buy a 35% stake in Shenzhen Qianhai Shanglin Cci Capital Ltd (hereinafter referred to as "Qianhai Shanglin") at a price of 242 million yuan at 603808.SH. After the completion of the acquisition, the company will get a 100% stake in Qianhai Shanglin, making it a wholly owned subsidiary of the company.

According to the announcement, Qianhai Shanglin currently holds ADON WORLD57% stake, ADON WORLD holds IRO SAS 100% equity, IRO SAS and Song Si Si respectively hold the 20% and 80% equity of eno fashion (Shenzhen) Garments Co., Ltd. (hereinafter referred to as "eno fashion"). After the completion of this acquisition, he will further strengthen the global control over the IRO brand through the holding of IRO SAS 57% in Shanglin, Qianhai.

The announcement shows that IRO was founded in 2005 by Laurent Bitton and ArikBitton brothers in Paris. With "Street Girls & fashionable women" as the design concept, the French style of simple pursuit of street feelings, including men's and women's clothing, is the main fashion women's clothing product.

After more than 10 years of development, as of now, IRO has grown into an international brand and has entered 50 countries through various channels. IRO takes its birthplace as the center of France, and sells in many countries and regions such as the United States, Germany, the United Kingdom, Spain, Denmark, Korea and many other countries. He owns the IRO brand's global ownership and fully dominates its regional business development in mainland China.

In April 2017, IRO, the first store in mainland China, opened in Shanghai Hang Hang Lung Plaza. Up to now, IRO has opened 18 terminal stores in mainland China, and there are 54 stores in the world.

In 2018, IRO SAS achieved a global operating income of about 575 million yuan and a profit of 92 million 344 thousand yuan.