HONG KONG, Nov. 18 /PRNewswire-Asia/ -- Hengdeli Holdings Limited
("Hengdeli" or the "Company" and its subsidiaries, the "Group"; stock code:
3389), a leading enterprise engaged in retail and distribution sales of
renowned international watch brands in China, together with LVMH Watch &
Jewellery Shanghai Commercial Limited, a subsidiary of LVMH Group, today
announce the renewal of their strategic alliance. Hengdeli will continue to
distribute the watch brands of TAG Heuer and Zenith in the Mainland China, and
both parties will strengthen their partnership in the retail watch business in
Hong Kong, Taiwan and areas where Hengdeli has set its foothold.
Pursuant to the agreement, Hengdeli will continue to be authorized by LVMH
to distribute the brands on an exclusive basis in the Mainland China, namely
TAG Heuer and Zenith, etc. The two parties held a cocktail party today to
announce the renewal of this strategic agreement.
At the cocktail party, Mr. Zhang Yuping, Chairman of Hengdeli, said,
"Over the years, Hengdeli has forged into a close partnership with LVMH Watch
& Jewelry Division in the capital market and business arena. LVMH Group became
our strategic investor when we were listed; while Hengdeli was LVMH's retailer
of their distinguished watch brands. We together also own an international
renowned brand OMAS. Today, we are here to renew our partnership, marking a
new chapter of our collaboration. Going forward, we will explore stronger
business cooperation in other areas. Sharing the same belief of "striving for
innovation and excellence based on trust and sincerity", I believe our
partnership will continue to grow and broaden."
"With its long history, "Hengdeli" brand has already earned its renowned
reputation among customers. The Group has recently renamed it as "Hengdeli
Holdings Limited" with an aim of reviving this century-old brand," Mr. Zhang
On the same occasion, Mr. Jean-Marc Lacave, President North Asia LVMH
Watch & Jewellery said, "The renewal of our collaboration agreement has not
only marked LVMH Watch & Jewellery Division's strongest faith in the Chinese
luxury watches market, but also shown our long-term commitment and trust in
Hengdeli as our trustworthy business partner, With its extensive retail
network, Hengdeli provides a reliable and sound retail platform to our
renowned timepiece brands, namely TAG Heuer and Zenith. Although this retail
agreement only covers the Mainland China, LVMH Watch & Jewellery Division
looks forward to building up closer ties on the retail business with Hengdeli
Group in Hong Kong, Taiwan or wherever Hengdeli has set its foothold."
Joining the cocktail is Bain & Company, a leading global consulting firm,
which introduced the development of watch market in Greater China Region and
worldwide. According to its report, the global and Chinese high-end consumer
market sets to be promising and Hengdeli Holdings is currently regarded as the
largest retail group of swiss watches around the globe.
Looking ahead, Mr. Zhang Yuping and Mr. Jean-Marc Lacave concluded, "Our
century-old brands will continue to prevail. Through our close and continuous
partnership, we both believe that Hengdeli and LVMH will continue to grow and
prosper, reaching to new horizons."
For further information, please contact:
Porda International (Finance) PR Co., Ltd.
Ms. Kelly Fung
Tel: +852 3150 6763 / 9289 2974
Ms. Fiona Ko
Tel: +852 3150 6750 / 6025 0533
Fax: +852 3150 6728
SOURCE Hengdeli Holdings Limited