UCHINO Co., Ltd. and Fung Group tie MOU
UCHINO Co., Ltd. has tied an MOU with New Concept International Enterprise., Ltd., a functional subsidiary for the home and fashion business of the Fung Group and Li & Fung Ltd, the largest fiber trading company in the world.
We are pleased to announce that UCHINO Co., Ltd. has signed a Memorandum of Understanding with New Concept International Enterprise., Ltd. to review possible development of joint businesses in China, Southeast Asia, and western region markets. NCIE is a functional subsidiary for the home and fashion business of the Fung Group, which holds many listed subsidiaries, including the world’s largest fiber trading company Li & Fung Ltd. and the multiple global brand owner Global Brand Group.
Background & Outlook of MOU Signing
CHINO launched its China business in 1993 and now has approximately 280 stores (including directly operated and franchised) throughout the country. FG appreciates the UCHINO brand and UCHINO’s material and product development capabilities that have been recognized widely in China and abroad, and both parties mutually confirmed the potential of further worldwide expansion. This MOU has been tied in result. Both companies will form dedicated teams with a strong commitment to quickly launch the joint businesses below.
Envisioned Joint Businesses
1. UCHINO-FG joint retail rollout in the home category
2. Supply of various OEM by UCHINO to FG
3. Assistance provided by UCHINO to roll out FG products in Japan
(Reference) Fung Group
The Fung Group core businesses are trading, logistics, distribution, and retailing. The group has 45,800 employees in over 40 countries/regions, with total revenue of over US22.70 billion as of April 2014.
The Fung Group operates through its core subsidiaries. Li & Fung Limited (SEHK: 00494) is an international leader of design, development, sourcing and logistics for consumer goods, and works with major retailers and brands around the world. Global Brands Group Holding Limited (SEHK: 00787) is one of the world’s leading companies specializing in branded apparel, footwear, fashion accessories, and related lifestyle products. Fung Retailing Limited is a retailing company with two publicly listed entities: Convenience Retail Asia Limited (SEHK: 00831), which operates convenience stores and bakeries; and Trinity Limited (SEHK: 00891), which operates a luxury menswear business.
Contact for inquiries regarding this matter
TEL：03-3661-7501 MAIL：Inquiry Form