Giordano Has Spent A Lot Of Money Buying Middle East Equity And Developing The Middle East Market.

International Limited has announced recently that it has signed a memorandum of understanding with ETA group in April 15th, and will invest $67 million to buy shares in Giordano Middle East. After the paction is completed, its shareholding will increase from 20% to 84%.

Giordano international also announced the acquisition.

Giordano's 7.34% stake in Australia is reported, Giordano international currently has Giordano 86% stake in Australia.

In addition, Giordano international will pfer the important part of Giordano's existing business in Dubai to a new entity FZCO wholly owned by Giordano.

For this paction, Giordano said that the management of the company is very familiar with Giordano.

The existing management team and expect the company's management to further expand the platform of Giordano's East Asian market (Middle East, Africa, Asia Minor, Central Asia and the developing market of eastern central Europe) after joining the management team.

According to public information, Giordano sold 5 billion 614 million yuan in 2011, an increase of 18.7% over the same period last year.

Among them, gross profit reached 3 billion 283 million yuan, an increase of 20.2% over the same period.

Annual net profit of 728 million yuan, an increase of 35.6% over the same period.

In terms of regional sales, the mainland is still the largest market for Giordano, selling 2 billion 29 million yuan a year, up 13.9% from the same period last year, accounting for 36% of the total sales.

The sales volume in Hongkong and Taiwan was 1 billion 759 million yuan, up 21.6% from the same period last year, accounting for 31% of the total sales.

Asia Pacific and other regions sold 1 billion 328 million yuan, an increase of 19.7% over the same period last year.

In addition, in 2011, the number of Giordano retail stores reached 2671, with 318 new stores.

Among them, there are 184 stores in mainland China.