Weihai "Dishang" Successfully Acquires Korean Clothing Listed Enterprise "AVISTA"

On the 26th, the reporter learned from the Information Office of Weihai Municipal People's Government that in the middle of November 2012, Dishang Group became the largest shareholder of AVISTA by purchasing 38.96% of the shares of the company. On January 8, 2013, Dyshang Group and AVISTA Corporation of South Korea jointly held a strategic cooperation release and media conference in Seoul, South Korea clothing Chen Dapeng, Executive Vice President of the Association, Xu Lianxin, Vice Mayor of Weihai Municipal Government and others attended the signing ceremony.

Xu Lianxin delivered a speech at the press conference. He said that AVISTA is one of the three major clothing listed companies in South Korea, and Didshang Group is one of the largest clothing export enterprises in China. Both sides have great complementary advantages and cooperation potential in marketing channel expansion, production base construction, clothing design research and development, talent and resource sharing, etc. The strategic cooperation between the two sides will further optimize the global layout of Dishang and improve China spin The development level of the clothing industry and the expansion of AVISTA's market share in China will certainly have a positive impact.

He stressed that China and the ROK are friendly neighbors separated by a strip of water. Weihai is the nearest city to the ROK on the Chinese mainland. For a long time, the two sides have extensive exchanges and good cooperation in many fields. At present, the construction of the China South Korea Free Trade Zone and the Shandong Peninsula Blue Economic Zone is accelerating, and China's vast market is a solid foundation for bilateral cooperation and development. It is hoped that the two companies will adhere to mutual benefit, work together to cope with risks, constantly innovate cooperation models, expand development space, launch more brands leading high-end consumption trends, enhance the core competitiveness of enterprises and create a better future.

period, Deschamps Zhu Lihua, Chairman of the Group, and Jin Donggen, CEO of AVISTA, jointly released the cooperation strategy of the two sides. The two sides will carry out all-round cooperation in marketing channel expansion, production base construction, clothing design and R&D, talent and resource sharing, and plan to achieve sales of 100 billion won, about 5.6 billion yuan, by 2020.

It is understood that this is the first time that a Chinese clothing company has successfully acquired a listed Korean clothing company, and it is also a new achievement of the Dyshang Group's cross-border M&A under the new model, which marks a new step forward for the Dyshang Group in implementing its international strategy.