Kilisen Will Continue To Sell Children'S Clothing In France

Recently, Semir apparel (002563. SZ) announced that it intends to sell 100% of the assets and business of sofiza SAS, a wholly-owned subsidiary of SEMAR group, but the selling price and time are not determined.

In recent two years, the company has integrated the business of kidiliz group, and actively carried out work from the aspects of organization and personnel, financial control, business development and cultural integration, so as to promote the coordinated development of domestic and overseas business.

However, due to the continuous economic downturn in Europe, the revenue of the main brand business of the kidiliz group has continued to decline, and the number of stores has decreased year by year, and the main business has a serious loss, and the loss is increasing.

Especially after the outbreak of new pneumonia in the world, kidiliz group's main business areas, France and Italy, as well as the whole European market economy, suffered heavy losses, which had a far-reaching impact and further enlarged the operational risks, which had an adverse impact on the company's performance and brought significant uncertainty to the company's future business performance. In order to avoid the continuous adverse impact of the business on the company's performance, the company intends to sell the assets and business.

Sofiz was established in 2005 as the main business of sofiz group. Kidiliz owns a number of children's wear brands such as CATIMINI and absorba.

In 2018, Semir completed the acquisition of kidiliz, a French children's wear group. According to the latest announcement, in 2018, 2019 and the first quarter of 2020, kidiliz lost 48.84 million yuan, 307 million yuan and 121 million yuan respectively.

SEMAR apparel said the purpose of the transaction is to reduce the company's operational risk and avoid greater loss of the company's performance, not for the purpose of competition.

During the period of this year, Samma group will carry out another potential business in China, and will not complete the underlying business in China.