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BRIEF-Mulberry to form entity to operate in China, Hong Kong and Taiwan
December 8, 2016 / 7:23 AM / 9 months ago

BRIEF-Mulberry to form entity to operate in China, Hong Kong and Taiwan

Dec 8 (Reuters) - Mulberry Group Plc

* Signing of an agreement with Challice Ltd to form a new entity to operate group’s business in China, Hong Kong and Taiwan

* Group will own 60 pct of share capital of new company, Mulberry (Asia) Limited (“Mulberry Asia”)

* Mulberry - Challice, which owns c. 56 pct of group’s share capital, is under same ultimate shareholder control as Mulberry’s existing distributor in region, club 21

* Mulberry Asia is expected to be loss-making during its first two years before moving into profit

* Mulberry Asia will be funded by a mix of equity and debt with initial share capital totalling c. 3.2 million stg, of which co’s share will amount to 2 million stg

* Expects to directly invest c. 3 million stg in additional regional marketing support over next two years Source text for Eikon: Further company coverage:

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