[February 17, 2017 ] Bosideng International Holdings (3998) announces that it has disposed of an equity interest in its non-down apparel brand Mogao and it closed its flagship store in London in the middle of January. The company sold its 51.004% equity stake in the non-down apparel brand Mogao for RMB40.52million after having reviewed the brand’s financial position and business performance. This will allow the Group to focus its resources on apparel brands with greater potential.
In addition, the Group has closed down its flagship store in London in January this year after having considered the economic uncertainty. The property where the flagship store used to be has been rented out temporarily. The Group may consider entering the British market again when the business environment is favourable. In 2011, the Group acquired the property and established its first overseas flagship store there. The Group has gained valuable experience in an overseas retail market and enhanced its reputation there and in the capital market after having operated the flagship store for several years.