According to reports, Viva China Holdings, founded by Li Ning recently, issued an announcement of an extraordinary announcement in China, announcing that it will be held on June 15, 2022, and will officially approve Li Ning’s acquisition of the British shoe brand Clarks. If the shareholders’ meeting approves, Viva China Holdings LTD, the main shareholder of China Sports Products Group Li Ning Co., Ltd., will hold the controlling stake in Clarks, one of the oldest shoe producers in the UK.
According to documents released by Viva China on May 26, the group aims to expand its brand clothing and shoe business. Earlier, the group had acquired the controlling stake in the casual clothing brand Bossini and the century -old Italian luxury brand AMEDEO TESTONI in July and 2022, respectively.
Clarks’ revenue in 2019 was 1.37 billion pounds, and the revenue in 2020 and 2021 was 778.9 million and 926.2 million pounds. In 2020, Clarks ‘losses reached £ 150.6 million. In early 2021, Li Ning agreed to acquire Clarks and provided a loan of 54 million pounds; Clarks’ profits in 2021 reached 53 million pounds.
Statistics show that the Clarks brand was once the world’s number one non -sports shoe brand, and it was also the first shoe brand in the UK all year round. Half of the first pair of British shoes came from Clarks. As synonymous with British leather shoes, Clarks is sold to more than 70 countries and regions around the world, more than 1,400 stores are all over the world, and controlling equity has been retained in the hands of the founding family. Prior to this sale, members of the Clarks family held 84%of the company’s shares and had absolute control. After the transaction, the Chinese capital headed by Li Ning will invest 51%of the shares of 830 million yuan, and the founding family of Clarks retains 49%of the equity through TOPCO.
According to the announcement, after the acquisition is completed, Li Ning will promote the development of Clarks business in the following directions: 1. Improve cost and operating efficiency; Fifth, increase the market share in Asia, especially China.
Li Ning is not the first China Sports Products Group to enrich its product portfolio: Anta controls FILA and Japan’s Descente, and holds Amer Sports shares. Sete acquired K-Swiss, Palladium, and Supra, PLDM and KR3W brand groups.