Related News
Mandarin Capital Partners, Miroglio ink 40m-euro deal
By Lydia Chen |
June 7, 2011, Tuesday
|
Online Edition
Online Edition
CHINA'S Mandarin Capital Partners has signed a deal with an Italian textile group, Miroglio, to invest about 40 million euros in the fashion giant's business in the world's largest market.
The deal is part of a US$3.2 billion cooperation package signed by the two countries in the presence of Italian Prime Minister Silvio Berlusconi and Chinese Vice President Xi Jinping last week.
The package also includes a US$1 billion deal between Telecom Italia and China's Huawei Technologies.
The deal with Miroglio marks the first investment by a Chinese private equity firm in the fashion industry and aims to improve the world's perception of Chinese fashion brands, Gao Zhen, a Mandarin partner, told Caijing Magazine this morning.
Miroglio, Italy's second largest fashion group, has 58 companies around the world with about 12,000 employees in more than 2,000 outlets in 36 countries.
Last year, the company reported a gross revenue of 1 billion euros while its Chinese joint venture with Zhejiang Elegant Prosper Garment Co posted a 10-fold growth over 2004 when it was founded.
Motivi, a brand under Moroglio and targeting at the same group of consumers as Zara, is expected to open 100 and more outlets in China in next three years.
Prospects for these fashion brands are considered promising by investors. Morgan Stanley said in a report that Zara's profit for each share is expected to grow 10.9 percent every year until 2014.
Mandarin Capital Partners, the largest Chinese-Italian private equity fund, is established by China Development Bank, the Export-Import Bank of China, and San Paolo IMI.
By December 28, 2007, the fund had accumulated 327.75 million euros and has so far invested in eight projects, seven in Italy, according to information on Mandarin's website.
The deal is part of a US$3.2 billion cooperation package signed by the two countries in the presence of Italian Prime Minister Silvio Berlusconi and Chinese Vice President Xi Jinping last week.
The package also includes a US$1 billion deal between Telecom Italia and China's Huawei Technologies.
The deal with Miroglio marks the first investment by a Chinese private equity firm in the fashion industry and aims to improve the world's perception of Chinese fashion brands, Gao Zhen, a Mandarin partner, told Caijing Magazine this morning.
Miroglio, Italy's second largest fashion group, has 58 companies around the world with about 12,000 employees in more than 2,000 outlets in 36 countries.
Last year, the company reported a gross revenue of 1 billion euros while its Chinese joint venture with Zhejiang Elegant Prosper Garment Co posted a 10-fold growth over 2004 when it was founded.
Motivi, a brand under Moroglio and targeting at the same group of consumers as Zara, is expected to open 100 and more outlets in China in next three years.
Prospects for these fashion brands are considered promising by investors. Morgan Stanley said in a report that Zara's profit for each share is expected to grow 10.9 percent every year until 2014.
Mandarin Capital Partners, the largest Chinese-Italian private equity fund, is established by China Development Bank, the Export-Import Bank of China, and San Paolo IMI.
By December 28, 2007, the fund had accumulated 327.75 million euros and has so far invested in eight projects, seven in Italy, according to information on Mandarin's website.
- About Us
- |
- Terms of Use
- |
-
RSS - |
- Privacy Policy
- |
- Contact Us
- |
- Shanghai Call Center: 962288
- |
- Tip-off hotline: 52920043
- 沪ICP证：沪ICP备05050403号-1
- |
- 互联网新闻信息服务许可证：31120180004
- |
- 网络视听许可证：0909346
- |
- 广播电视节目制作许可证：沪字第354号
- |
- 增值电信业务经营许可证：沪B2-20120012
Copyright © 1999- Shanghai Daily. All rights reserved.Preferably viewed with Internet Explorer 8 or newer browsers.
