Digital Asia News Update
European childrenswear retailer Kidiliz Group has entered into exclusive negotiations with a prospective owner, China’s Zhejiang Semir Garment Co.
The two firms, which have a combined sales revenue of €2 billion (US$2.3 billion), will become the second largest player in the sector if the acquisition deal goes ahead.
Semir claims absolute leadership of the Chinese childrenswear market though its Balabala brand, and also operates other brands, including international labels via joint venture and master licenses. It has 8000 mono-brand outlets and draws 25 per cent of its income from online sales.
Kidiliz has been present in the China market for 20 years, and retails 15 brands worldwide. Its acquisition by Semir would significantly accelerate its presence in the Chinese market.