Beckham Joint Venture Brand Seven Global Is On The Road Of Listing.

Recently,

The company announced its mid term earnings report and announced that its joint venture with the retired football star David Beckham (David Beckham) will soon be on the market.

It is reported that Seven Global will become the main development brand of Li Biao brand Co., Ltd., with sales of 5 dollars and 1 billion 500 million US dollars as its goal.

The two sides announced the opening of the joint venture company in December 2014. The equity issue is half the profit margin and the other half is from the joint venture company.

And American Idol producer Simon Fuller.

Li Biao brand Co., Ltd., a new joint venture brand Seven Global, which is working with retired football star David Beckham (David Beckham), is expected to be launched in the next one or two months.

The main products are now planned to open in the US and Europe, but have not yet decided whether the first store will be in Hongkong or Shanghai.

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In the first half of the year, income fell 5% to 1 billion 282 million US dollars, excluding 6% after the end of business and exchange rate.

Le Yumin, vice chairman and chief executive officer of Bruce, 0787.HK, said in the earnings report that the group "as before" expected revenue and earnings to grow significantly in the second half of the year, especially the "tilt effect" caused by seasonal factors. These factors included the return period and holiday in North America in the second half of the year, and some of the largest product categories and brand tendencies to sell autumn and winter products.

In addition, the group and retired football star David Beckham David Beckham and its business partner Simon Fuller, a new joint venture brand Seven Global, will launch new products based on men's clothing in the next one or two months, and this business is expected to contribute to the performance of the second half of the year.

Le Yumin said that Seven Global will become the main development brand of the group. With the goal of selling for 5 years and 1 billion 500 million US dollars, it has planned to open stores in the European and American markets and the mainland of China, but it has not yet decided whether the first store will be in Hongkong or Shanghai.

The authorized brand business of brands such as Calvin Klein, Michael Kors, Coach, Disney Disney, Nautica, Tommy Hilfiger and Under Armour decreased by 7.9% to US $1 billion 62 million in the first half of the year, gross margin rose 90 basis points to 31%, and the core operating loss narrowed to 29 million US dollars from the same period last year, 32 million US dollars.

With Jones New York (new entry in June), Juicy Couture, Spyder, Frye and Aquatalia, the revenue of brand controlled brand business rose 12% to 220 million US dollars, gross margin increased by 780 basis points to 35.1%, and core business loss improved from 14 million US dollars last year to 14 million US dollars.

Bruce Rockowitz Le Yumin said that the group will continue to expand its global business territory and continue to join the new brand for authorized business and control business.

He said in the interim results conference that the future takeover target is mainly the US brand with annual revenue of more than 100 million dollars, and will not consider the start-up brand.

For today's devaluation of the renminbi, Le Yumin, Bruce Rockowitz, pointed out that this has little impact on the 95% business from the European and American markets (North America 80%, Europe, Middle East 15%), but is conducive to the group's Chinese exports and helps to raise gross margins.