China Shanghai jahwa Group Chairman said Ge Wenyao, is working with the world's largest luxury goods group – Tag Heuer (LVMH) (LVMH. PA: quotes) discuss business cooperation in the field, and does not exclude the possibility of the latter shares.
But cooperation with LVMH does not involve the controlled transfer of equity issues, at home in the process of reform will always " not to be foreign-owned " principle. China Securities News quoted him as saying on Thursday, Shanghai jahwa group the future direction of development is a comprehensive fashion industry groups, including cosmetics and cosmetic-related business, jewelry, jewelry, cosmetics other than business, as well as boutique hotel business.
And operating in the brand, shop management has extensive experience in areas such as LVMH to strengthen cooperation, is favourable to the development of Shanghai jahwa. As far as the mode of co-operation, said Ge Wenyao, " all possible ", which does not exclude the possibility of participating, but we have not yet reached any agreement.
Can be sure of is that Shanghai jahwa holdings will not be transferring to the right of foreign-funded enterprises. He also pointed out that, in the system reform of Shanghai jahwa group is promoting, is currently in the audit and evaluation, fight for property rights Exchange in early July.
If all goes well, buyers may in August to emerge. Reports also said that in listed companies Shanghai jahwa (600,315. SS: price) 9. 8% transfer the stake to investment of Shanghai City and Shanghai jiushi two after both companies owned by Shanghai SASAC, Shanghai jahwa Group's main asset is the listed company remains about 29% ', and the Group of businesses.
According to reports, concerning the assessed value of the assets of about 5 billion yuan. Shanghai jahwa owns six gods, the United States and Canada of net, HERBORIST and many other well-known brands.
