Caely Holdings Bhd Working to Unfreeze Bank Accounts

KUALA LUMPUR, Apr 20, 2022 – (ACN Newswire) – Caely Holdings Bhd, a leading domestic producer of women's intimate apparel, takes note of the order to freeze all the Group's bank accounts and wishes to reassure all stakeholders that measures are being explored to ensure business continuity and sustainability.


Caely Executive Director and Chief Executive Officer Mr. Lim Chee Pang


Caely Executive Director and Chief Executive Officer Mr. Lim Chee Pang said, "The unfreezing or partial unfreezing of the bank accounts are our top priority. We are exploring all avenues to resolve this issue, as we need to ensure that business operations can sustain."

"We are answerable to our shareholders for how the business is run. The Board of Directors is monitoring the situation closely too and is working with the management on the unfreezing of the bank accounts."

"We can confirm that we are in contact with the authorities and will extend whatever cooperation or assistance is needed for the matter to be resolved," Lim said.

The management is at this juncture still assessing the impact from the order to freeze the bank accounts. "We are working on the next steps, which also include measures to ensure that daily operations are not disrupted. The livelihoods of Caely employees as well as our suppliers and vendors are at stake," Lim said.

The Group also understands the concerns of stakeholders and is working as speedily as it can to resolve any issue arising from the freezing of the bank accounts and will make the necessary announcements to Bursa Malaysia Securities Berhad as and when there are further developments.

Caely Holdings Bhd: http://www.caelyholdings.com/
Caely Holdings Bhd: 7154 / [BURSA: CAELY] [RIC: CAEY:KL] [BBG: CHB:MK]

Copyright 2022 ACN Newswire. All rights reserved. http://www.acnnewswire.com

HKTDC Hong Kong Watch & Clock Fair and Salon de TE open today

HONG KONG, Sep 8, 2021 – (ACN Newswire) – The special edition of the 40th HKTDC Hong Kong Watch & Clock Fair and ninth Salon de TE, organised by the Hong Kong Trade Development Council (HKTDC), Hong Kong Watch Manufacturers Association Ltd and The Federation of Hong Kong Watch Trades and Industries Ltd, officially open today, bringing together more than 160 exhibitors. The physical fairs run from 8 to 12 September at the Hong Kong Convention and Exhibition Centre (HKCEC), while the online version runs until 19 September, providing continued sourcing opportunities through both physical and online formats.


Officiating at today's opening of the 40th HKTDC Hong Kong Watch & Clock Fair and ninth Salon de TE

Sponsored by Prince Jewellery & Watch for the 11th consecutive year, World Brand Piazza presents 12 renowned international brands including spectacular pieces from Piaget and Jacob & Co.

A series of public activities including watch parades, "Watch X Fashion" parades and product launches are being held throughout the fair period with models showcasing the latest designs.


The five-day fairs are open to the general public for the first time, offering visitors the opportunity to appreciate precious timepieces and shop for watches at discounted prices. Organised by the HKTDC, Asia's premier fashion event CENTRESTAGE runs from 10 to 12 September at the HKCEC, presenting designer brands from around the world. The concurrent fairs create synergies and new business opportunities for participants from both the watch and fashion industries.

World Brand Piazza features exquisite international brands

Showcasing quality watches of different designs, Salon de TE comprises various thematic zones including World Brand Piazza, Craft Treasure, Chic & Trendy and Renaissance Moment. Sponsored by Prince Jewellery & Watch for the 11th consecutive year, World Brand Piazza presents 12 renowned international brands, including Blancpain, Breguet, Chopard, CORUM, FRANCK MULLER, Glashutte Original, Jacob & Co, Jaquet Droz, Juvenia, PARMIGIANI FLEURIER, Piaget and SARCAR Geneve.

A broad range of timepieces are under the spotlight, including the following:

Masterpieces showcase exquisite micro-engraving skills

– Memorigin highlights the Six Steeds in the Tang Dynasty tourbillon watch, its first manual-winding watch that possesses a central tourbillon with free sprung balances. Each piece involves 260 hours of craftsmanship to showcase the Yangtze River, Yellow River, mountains and 18k galloping gold horses on the 42mm-diameter watch. (Booth: 1D-A20)

– ANPASSA presents its Racing Tourbillon RXD31MCS with an 18k gold micro-engraved golden dragon featured on the tourbillon movement. The titanium case is set with rainbow-coloured gemstones, showcasing the talent of the watchmaker in creating three-dimensional visual art. (Booth: 1D-A17)

Sparkling designs grab attention

– Fouette presents the Le Petit Prince L'Etoile, which is produced in a limited quantity of just 100 pieces. The watch features 76 pieces of cubic zirconia on the bezel and eight pieces on the L'Etoile dial. It also includes a Le Petit Prince figurine in 925 sterling silver with luminous stars and hands – features that are all highly attractive to fans of the Little Prince. (Booth: 1D-B05)

– The Temporis "My" collection, inspired by the 12 zodiac constellations, has the watch case, bezel and crown set with 350 sparkling stones. The highlight of the piece is the constellation symbol rendered in black sparkling stones that provide a strong contrast to the silvery white background. (Booth: 1D-B07)

Artistic designs on trend

– The MONA LISA, Da Vinci @ Traveling Muzeum Collection Watch was designed by renowned fashion designer Vivienne Tam, and engineered by eminent scientist James Wong. The dial is decorated with 29 pieces of genuine topaz and features a crown set with valuable alexandrite. The watch, which also features a high-quality, shock-tolerant 316 S/S Swiss movement, is available for sale in a limited edition of 1,680 pieces. (Booth: 1D-B01)

– The Roulette Master Skeleton automatic model by Romago has a transparent case back showcasing an open-worked rotor. The watch is water resistant up to 50m. (Booth: 1D-B09)

Classic and trendy must-haves

– The Iza Collection C174RRD from Swiss brand COINWATCH showcases a stainless-steel case with 16 diamonds and a rose gold PVD bezel. The piece also features an interchangeable double-wrap leather strap. (Booth: 1D-A09)

– Empire Watch brings back a classic with a modern twist, featuring a metallic blue colour and a minimalist dial design. This quartz analogue watch is made from stainless steel with a mesh band safety lock, sapphire glass and a Japanese movement. (Booth: 1E-C35)

The Watch & Clock Fair also showcases parts and components. For example, the Japanese watch movement MIYOTA is introducing the Caliber 9029 at the fair, a new calibre that meets the latest trend for slimmer watch designs using its two-hand Premium Automatic movement. Other zones showcase complete watches, clocks, packaging and trade services.

Events, lucky draws and attractive shopping offers for public visitors

Various public activities are being held during the fairs including watch parades, "Watch X Fashion" parades and product launches, with the participation of local celebrities such as Cheung Tat-ming, Nelson Cheung, Derek Wong, Lilian Kan and Chan Wing-luk. Lucky draws will be organised during the fairs with prizes such as a tourbillon watch valued at HK$28,000, a one-carat moissanite diamond ring, jewellery pieces, fashion items and more. Visitors can also participate in Smart Bidding to bid for watches starting at 10% of the original price, including a tourbillon watch valued at HK$47,000. Visitors can download electronic coupons (https://bit.ly/2W7eWU7) to enjoy discounts of up to 40% when buying watches at the fairs. In addition, key opinion leaders are conducting livestreaming shows during the fairs to introduce selected watches at the onsite studio.

A watch craftsmanship workshop with the theme "Reminisce and Inherit: Locally-Made Tourbillion Demonstration" (12 September) will feature local watchmakers introducing Hong Kong-made tourbillons and demonstrating aspects of the manufacturing process. Visitors can take this chance to get a deeper understanding of the art of watchmaking.

Industry experts offer valuable insights on market prospects and trends

Industry participants should not miss a series of forums and seminars that provide first-hand market information and insights into the latest business trends. A seminar titled "Global Luxury Watch Investment and Market Outlook in Mainland China" (10 September) will invite John Ng, Horologer of Montres S.A. and known as the only Asian disciple of master horologer Philippe Dufour, Ho Sai-chu, Chairman of Chih Lo Lou Art Promotion (Non-Profit Making) Ltd, and watch experts and consultants from renowned auction houses such as Sotheby's, Christie's and Phillips to share insights into global and Mainland Chinese luxury watch investment, the role of the younger generation in the watch industry and the watch industry outlook in the Guangdong-Hong Kong-Macao Greater Bay Area.

Meanwhile, the Hong Kong International Watch Forum, broadcast online on 6 September, featured sharings by representatives of watch associations from Mainland China, France, Germany, Hong Kong, Japan and Switzerland. In addition to the latest market insights, participants discussed the future direction for development in the global watch manufacturing sector. Video playback is available for viewing on the fair website. Under the theme "Redesigning the Future of Luxury Watches", the Asian Watch Conference (9 September) will invite a representative from iClick Interactive to share her views on online and offline marketing strategies for luxury watch brands in the mainland, while Dayton Industrial's representative will offer insights into the latest developments of the watch industry. Louis Chan, Principal Economist (Global Research) from HKTDC Research, will share future markets insights for the watch industry.

Click2Match enables business matching

The HKTDC has mobilised its network of 50 offices worldwide to invite overseas buyers to connect and maintain contact with exhibitors through video conferencing. The AI-powered online business matching platform Click2Match helps to bring exhibitors together with the most suitable buyers. Participants can also take advantage of functions such as a meeting planner, live chat and e-business card exchange, helping them to overcome barriers and build business connections around the world.

Design competition to promote local creativity

To nurture budding local designers, the HKTDC joined together with the Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades & Industries Ltd to organise the 38th Hong Kong Watch & Clock Competition. The theme of the Open Group was "Minimalism" and the winning design, "SPACE BAR" by Tam Kwok-tung, presents an empty transparent container in which the hands are hidden under the wheels. The student group's theme was "Live Fully" and the first prize went to Yip Tsz-yan from the Hong Kong Design Institute for her "Insight" design, which took inspiration from the optical arts. The winning and finalist entries from the competition are on display at Hall 1D Concourse during the fair, showcasing the best of Hong Kong's creativity to buyers and the public.

Websites:
– Hong Kong Watch & Clock Fair: https://hkwatchfair.hktdc.com
– Salon de TE: https://hkwatchfair.hktdc.com/te
– Photo download: https://bit.ly/3l3krM0

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries:
HKTDC's Communications & Public Affairs Department
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Angel Tang, Tel: +852 2584 4544, Email: angel.hc.tang@hktdc.org

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Strong Mainland China demand boosts Swiss watch industry

HONG KONG, Sep 7, 2021 – (ACN Newswire) – Jointly organised by the Hong Kong Trade Development Council (HKTDC), the Hong Kong Watch Manufacturers Association and the Federation of Hong Kong Watch Trades and Industries, the special edition of the 40th Hong Kong Watch & Clock Fair and the ninth Salon de TE begin tomorrow at the Hong Kong Convention and Exhibition Centre. To help industry participants grasp the latest market information and trends and formulate strategies for post-pandemic growth, the three organisations hosted the Hong Kong International Watch Forum on 30 August. The forum invited watch association representatives from Mainland China, France, Germany, Hong Kong, Japan and Switzerland to share on the watch industry's current trade performance in the region and offer perspectives that can help the global watchmaking industry continue to move forward.


Daniel Tsai, Chairman of the Federation of Hong Kong Watch Trades & Industries Ltd (centre), with Student Group merit award winners Chan Yin-kei (R), Lau Ka-ki and Ho Wing-kiu; champion Yip Tsz-yan; and first runner-up Ho See-long (L)

"Insight", the creation of Student Group champion Yip Tsz-yan

The "Global Luxury Watch Investment and Market Outlook in Mainland China" forum on 10 September will feature insights from John Ng, Horologer of Montres S.A.


Swiss representative – US demand has also rebounded

Even though the pandemic has battered the global economy and posed significant challenges for the watch and clock industry, the speakers' view was that markets are steadily recovering. They noted that imports, exports, production volumes and profits have all rebounded from the depths of 2020, although still remain shy of 2019 levels.

Thierry Dubois, the representative from Switzerland's Federation of the Swiss Watch Industry FH, explained that Swiss watch exports during the first six months of 2021 have improved year-on-year. In 2020, the country's total exports dropped 21.7% compared to the previous year. However, the total export value remained on a par with that of 2019, dipping only 0.5% to 10.6 billion Swiss francs. This was thanks to the Mainland China market, which has seen a surge in demand for luxury Swiss watches since last summer. Demand from the US also began picking up from March this year, which was sooner than the Swiss watch industry anticipated.

Mr Dubois pointed out that Asia now represents the largest market overall for Swiss watch exports, with Mainland China being the leading market, followed by the US, Hong Kong, Japan and Singapore. He foresees that by 2025, the mainland's consumption will pull further ahead and account for 46-48% of all luxury watch purchases.

He added that the pandemic has created new consumer habits, with prolonged lockdowns giving consumers more time to reflect on their watch purchases and make new discoveries. "We have observed that online sales quickly replaced physical sales, as shops had to close during the lockdowns. In 2019, online sales represented 10-15% of total sales of luxury products. We expect this will rise to 30% by 2025. At the same time, the importance of social media for communication, interaction and sales has continued to grow. Livestreaming has exploded, and the trend is particularly visible in Asia. With the increase in e-commerce, the demand for efficient logistics and delivery has also climbed, because today's online shoppers expect swift product deliveries once they have placed an order," said Mr Dubois. He remarked that there has also been a notable increase in the demand for "pre-owned" watches – or watches that have been possessed by someone else – which is expected to rise by 15-20% within four years.

German representative – physical stores remain attractive

Guido Grohmann, the representative from Germany's Federal Associations of Jewellery, Watches, Silverware and Supplying Industry e.V. (BVSU), said the country's exports of watches, clocks and parts saw a significant year-on-year decline of 14.1% in 2020, including falls of 7.5% in the European Union (EU) and 16.4% in Asia. The situation was largely echoed in imports. In 2020, German imports of watches, clocks and parts fell 6.2% compared to the previous year, with the biggest decline registered in Asia, at 8.7%. Despite this, imports from the EU rose 28.5%, with logistics operating more smoothly among EU countries. In 2021, both exports and imports continued to strengthen during the first five months with imports faring even better than the same period in 2019.

While e-commerce continues to gain popularity, Mr Grohmann said that offline stores are still maintaining their attractiveness. He remarked that even though lower-priced products were sold online during the pandemic, consumers still preferred going to stores to buy high-end products as it allows them to try out the luxury goods. As for logistics, he noted, "The COVID crisis has reflected that we still have huge problems within the supply chain, especially in shipping parts. Industries are looking into reinventing local suppliers in Europe to attain a more secure supply chain. It would be much better if the world's governments [could] focus on how to re-enact the fast and solid supply chain that we used to have. From the watch industry's perspective, we have to discuss this on a global level. It is difficult, but it can be solved."

The Hong Kong International Watch Forum was held as a webinar on 6 September. A replay will soon be available on the Watch & Clock Fair website.

Hong Kong Watch & Clock Competition identifies local design talent

To raise the design standards of the Hong Kong watch industry, nurture local designers and inject new impetus into the industry, the HKTDC collaborated with the Hong Kong Watch Manufacturers Association Ltd and the Federation of Hong Kong Watch Trades & Industries Ltd to organise the 38th Hong Kong Watch & Clock Competition. This year's competition was once again divided into the Open Group and the Student Group, adopting the themes of "Minimalism" and "Live Fully" respectively. About 90 high-quality entries were received, from which a panel of 10 judges from various sectors selected the winning entries.

The results of the competition have been announced and the champion in the Open Group was Tam Kwok-tung for his design titled "SPACE_BAR". Housed in a transparent container, the design beautifully encapsulates the simplicity of the watch's movements. The first runner-up prize was claimed by the Ballerina Watch Company Limited and its design "Singing Bowl". The design forgoes a traditional watch crown to accentuate the unified and symmetrical watch case design. Second runner-up was Wong Ting-bong for his design "D012". The unique open design of the minute dial is topped with a linear second hand, which perfectly represents the concept of points, lines and surfaces as the hands move.

In the Student Group, the Hong Kong Design Institute's Yip Tsz-yan was crowned champion for her design "Insight". Her watch's bezel and glass are made with a diamond-cut design, and the case-back contains fancy glass that refracts light and reflects colours. Ho See-long from the Technological and Higher Education Institute of Hong Kong claimed first runner-up with her design titled "Serendipity". The design reflects the idea that the happiness and fortune people seek may already be surrounding them and that every trivial matter in daily life can be a miracle. The second runner-up prize was taken by another Hong Kong Design Institute student, Pui Hong-yiu, whose design "Expedition" drew inspiration from the film Around the World in 80 Days. The watch's oversized design symbolises the confidence and motivation for taking an expedition, while the mini globes on the face can display the wearer's location.

The champions of the Open Group and Student Group will be sponsored to attend the INHORGENTA MUNICH 2022 trade fair in Germany. All the winning and finalist entries will also be displayed during the Watch & Clock Fair to showcase Hong Kong's design prowess to global industry participants and the general public.

Renowned watchmaker shares tips on luxury watch investment in Mainland China

In addition to the above events, the annual Asian Watch Conference will be held on 9 September during the Watch & Clock Fair. With the theme, "Redesigning the Future of Luxury Watches", experts will look at the future for the luxury watch sector from the perspective of product design trends and marketing strategies, helping watchmakers and manufacturers to be more future-ready. Trade professionals interested in attending the conference can register at the event website. https://tinyurl.com/crnrkc2r

Meanwhile, a sharing session titled "Global Luxury Watch Investment and Market Outlook in Mainland China" will be held on the afternoon of 10 September. John Ng, Horologer of Montres S.A., who is known as the only Asian disciple of master watchmaker Philippe Dufour, will be joined by Ho Sai-chu, Chairman of Chih Lo Lou Art Promotion (Non-Profit Making) Ltd, as well as three auction house representatives: Cissy Ngan, Associate Vice President and Specialist at Christie's, Mary Lee, Consultant at Sotheby's and Jill Chen, Head of Watches, Hong Kong at Phillips. They will discuss global luxury watch investment and share insights on watch collecting, the prospects for watch investment in Mainland China, the role of young people in the watch industry, and the industry's outlook in the Guangdong-Hong Kong-Macao Greater Bay Area. Interested trade professionals can register here. https://tinyurl.com/crnrkc2r

The 40th HKTDC Hong Kong Watch & Clock Fair and the ninth Salon de TE both begin tomorrow. The physical fairs will run from 8 to 12 September at the HKCEC, while the online version will run until 19 September. The hybrid format will help global watch traders explore more business opportunities. The five-day fairs at the HKCEC will open to industry buyers and, for the first time, also to the general public, offering local watch lovers the opportunity to shop for precious timepieces.

Fair websites
– Hong Kong Watch & Clock Fair: https://hkwatchfair.hktdc.com
– Salon de TE: https://hkwatchfair.hktdc.com/te
– Photo download: https://bit.ly/3zH79e9

About HKTDC

The Hong Kong Trade Development Council (HKTDC) is a statutory body established in 1966 to promote, assist and develop Hong Kong's trade. With 50 offices globally, including 13 in Mainland China, the HKTDC promotes Hong Kong as a two-way global investment and business hub. The HKTDC organises international exhibitions, conferences and business missions to create business opportunities for companies, particularly small and medium-sized enterprises (SMEs), in the mainland and international markets. The HKTDC also provides up-to-date market insights and product information via research reports and digital news channels. For more information, please visit: www.hktdc.com/aboutus. Follow us on Twitter @hktdc and LinkedIn

Media enquiries:
HKTDC's Communications & Public Affairs Department
Janet Chan, Tel: +852 2584 4369, Email: janet.ch.chan@hktdc.org
Angel Tang, Tel: +852 2584 4544, Email: angel.hc.tang@hktdc.org

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Jinjiang, China: Speeding Up to Build the City of Sports

Jinjiang, China, Aug 30, 2021 – (ACN Newswire) – After the Tokyo Olympic Games, the Chinese sports delegation sent a letter of thanks to Anta, Shua, Joeone and other Jinjiang enterprises. From "Made in Jinjiang" focusing on livelihood products, to "Intelligent Manufacturing in Jinjiang" full of core scientific and technological competitiveness, Jinjiang brands have been continuously improving the scientific and technological value of China's sports equipment, and making breakthroughs and creating glory together with Olympic athletes.

At present, Jinjiang fully implements the strategies of "healthy China", "sports power" and "national fitness", and takes the opportunity of holding major international events to fully promote the construction of a sports city.

Jinjiang elements in the Olympic Games

In the Tokyo Olympic Games, the Jinjiang brand and Olympic athletes shone together.

Anta made high-tech "Champion Dragon Outfit" for Chinese sports delegations; Shua Sports provided a variety of professional training equipment for Chinese sports delegations; Joeone Group provided the entrance dress of the opening ceremony for the Chinese sports delegation – "a good start"; Gong Lijiao, who fought in the Olympic Games for the fourth time, wore special shoes optimized for dozens of times by Xtep and won the first Olympic gold medal in her 21-year career with a personal best score of 20.58 meters.

Jinjiang brands have always been a solid backing for Chinese athletes. At present, Jinjiang sports brands are taking the opportunity of the 2022 Beijing Winter Olympic Games to accelerate its development in ice and snow sports.

"Intelligent Manufacturing in Jinjiang" also witnessed that foreign athletes won medals in the Tokyo Olympic Games-American athlete, Katie Zaferes, won the bronze medal in the Triathlon (women's individual) wearing "Qu!kfoam*" from 361 Degrees Sports.

Jinjiang sample of sports industry

Since Jinjiang became the third national sports industry base in China, it has always supported and cultivated the sports industry as an important pillar industry; led by Anta, 361 Degrees SPORTS, Qiaodan and other large-scale sports enterprises, it has been driving the sports equipment industry to extend to the whole chain of the sports industry, continuously expanding and strengthening the sports industry economy, and making the "Sports City" a new name card of Jinjiang.

At present, the total output value of Jinjiang sports and related industries exceeds RMB 200 billion. There are 4 demonstration units of national sports industry base, ranking first in county-level cities of Fujian Province. In order to expand the influence of the sports industry, Jinjiang holds China (Jinjiang) International Footwear Expo every year which was upgraded to an international sports industry expo in 2016.

Jinjiang will seize the opportunity to vigorously develop sports services such as competition performance, sports training, fitness and leisure, sports intermediary and so on; take the opportunity of hosting the 18th ISF Gymnasiade (School Summer Games) to promote sports consumption, and strive to achieve an output value of more than RMB 250 billion by 2025.

Exploration of Jinjiang benefiting the people by competition

In recent years, according to the concept of "prospering the city with competition, promoting production with competition, benefiting the people with competition" and "running events is running the city", Jinjiang has been striving to maximize the effect of events and improve the quality of the city while holding successful events.

Jinjiang will build a "one mountain and one water" slow travel system and public welfare leisure places such as Baxian Mountain and Oasis Park. Free leisure and fitness parks, basketball courts, gate stadium and other sports facilities will be arranged around communities and villages to create a "10 minute sports circle" and improve national sports facilities. On this basis, led by the Nationwide Fitness Campaign, Jinjiang has held more than 2,000 events every year, successfully creating a number of mass events with diversified characteristics.

Taking advantage of major events, Jinjiang invested RMB 230 million to build the largest national fitness center in the province and RMB 445 million to build Jinjiang Youth Sports School. At present, 30 venues for 18th ISF Gymnasiade (School Summer Games) have been completed and put into use as scheduled. Among them, more than 60% have been built up in schools and will be owned by schools and transformed into sports venues for students after such event. About 30% public venues will be operated by companies and open to the public.

Contact: Lisa Wu, email: lisa_wu916@163.com
Source: https://www.qzwb.com/gb/content/2021-08/20/content_7102418.htm

Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

EEKA Fashion Announces 2021 Interim Results, Record-Breaking Sales and Profit Growth Driven by Multi-Brand Strategy

HONG KONG, Aug 30, 2021 – (ACN Newswire) – EEKA Fashion Holdings Limited (Ticker: 3709.HK, "EEKA" or "the Group") announced unaudited consolidated interim results for the six months ending on 30 June 2021 ("the period").




In the first half of 2021, the Group's revenue increased 53.7% year-on-year to RMB3.08 billion. Gross profit was RMB2.26 billion, representing an increase of 53.3%. The gross profit rate was 73.5%. Net profit increased by 134.2% to RMB280 million (net profit was RMB330 million excluding share award scheme fees).

Operational Summary
During the period, the Group recorded strong revenue growth by improving the operations of its offline retail channels and online e-commerce platforms. In terms of offline sales, the Group leveraged its retail channels, and achieved sales of RMB2.44 billion from its 1,490 retail stores in the first half of 2021. As for online sales, the Group has enhanced the operation of multi-e-commerce platforms, with Tmall, VIP.com and EEKA Fashion Mall as the key sales drivers. The revenue of e-commerce platforms increased by 41.7% to RMB386 million during the period, and the proportion of the Group's total revenue is increasing steadily.

Focusing on the multi-brand strategy, the Group continues to build its capabilities to operate the multi-brand platform, and strengthen the positioning of the premium brand through brand ambassadors. In the first half of 2021, the Group's eight major brands have shown rapid growth momentum: Koradior and NAERSI achieved revenue of over RMB1.8 billion, highlighting their strong market influence. NEXY.CO achieved sales of RMB388 million, approaching the Group's third retail brand target of over RMB1 billion. FUUNNY FEELIN showed robust growth potential with sales exceeding RMB50 million, and recorded a growth rate of over 500%.

During the period, the Group enhanced its operational capabilities by driving supply chain integration and logistics warehouse concentration. The Group also actively promoted sustainable development, and joined "The Smart Coalition for Sustainability" with its eight major brands, to support the "Kind to Earth, Fashion for Future" sustainability initiative.

Outlook
Mr. Jin Ming, Founder and CEO of EEKA Fashion, said "In the first half of 2021, global epidemic prevention and control has entered a normal phase, and China's economy is steadily recovering and showing strong resilience. As a result, the domestic high-end consumer goods market offers significant growth potential, and the domestic middle and high-end women's apparel market holds great growth opportunities. In line with EEKA's multi-brand strategy, we are committed to enhancing our core operational capabilities through innovative research and design, supply chain integration, digitalization, logistics warehouse concentration and channel optimization, to achieve exceptional market growth."

In the second half of 2021, the Group will continue to enhance the brand's market influence and product innovation capabilities, accelerate the transformation of multi-channel operation and increase the sales growth of e-commerce platforms, deepen the combination of product R&D and supply chain, and build a digital system of the entire business chain. With the vision of "Just for her unique glamour", the Group will continue to focus on the multi-brand strategy, and create value for consumers in pursuit of a better life. The Group will commit to achieving the three-year cross-billion sales target, consolidating its leading position of middle and high-end women's apparel market in China.

About EEKA Fashion
EEKA Fashion Holding Limited (Stock Code: 3709.HK) is a well-known fashion apparel group with a unique brand culture concept, advanced research and development design center, sound marketing service system, efficient logistics distribution and network management system. The Company has been deeply involved in China's high-end women's apparel industry since its establishment and was listed on the Hong Kong Main Board in 2014. The Group currently has eight self-owned brands: Koradior, La Koradior, Koradior elsewhere, NAERSI, NAERSILING, NEXY.CO, CADIDL and FUUNNY FEELLN. Over the years, EEKA Fashion Group has been strongly committed on brand internationalization. Since 2015 onwards, many of its brands have been invited to Milan Fashion Week and New York Fashion Week to show the charm of Chinese brands. The Group has always insisted that brand is the root and creativity is the soul, based on customer lifestyle research and brand culture shaping, in view of customer needs and the mission of "Just for her unique glamour", focusing on product innovation and brand communication, and continuing to lead customers' dress and life culture.

This press release is issued by ICA Investor Relations (Asia) Limited on behalf of EEKA Fashion Holdings Limited. For any enquiries, please contact:

ICA Investor Relations (Asia) Limited
Tel: +86 (21) 8028-6033
E-mail: eeka@icaasia.com


Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Esprit Announces Interim Results for the Six Months Ended 30 June 2021

HONG KONG, Aug 25, 2021 – (ACN Newswire) – ESPRIT HOLDINGS LIMITED ("Esprit", "the Company" or the "Group;" HKEx: 00330) has today announced its unaudited financial interim results for the six months ended 30 June 2021 (the "Period").

Group revenue for the Period was approximately HK$3,872 million, a marginal decrease of around 5.8% from the six months ended 30 June 2020 (the "Corresponding Period"), primarily resulted from lower revenue in Europe, (approximately 14.4%) due to stringent pandemic related operating restrictions, as well as the Company's temporary exit from Asia Pacific and the closure of several low-performance stores. The reductions were tempered by a stronger performance from the Company's digital operations, which recorded an increase of approximately 17.3%. During the Period, the Esprit website and third-party e-commerce partners continued to trade during lockdown and, as a result, a large portion of the Company's sales were generated online. This business model allowed the Company to mitigate some of the negative impact that the pandemic had on the retail segment.

Mr. DALEY Mark David, President and Chief Executive Officer, said, "There is no question that the trading environment around the world has been challenging on many levels for our brand and others, still, I continue to be proud of how our teams have reacted and applied themselves to operating the business in these difficult times. It would be a remiss if I did not note that we are mid way through a period of major transformation with the Esprit business and brand. We are reshaping our global operations, recreating our consumer proposition in product and marketing, firming up and stabilizing our European P&L and exploring exciting growth options for our brand in America and Asia Pacific. We have attracted a team of world class talent at leadership level, who will be based at our global headquarters in Hong Kong, to provide drive, governance and operational control over all aspects of our business. Plus, finally the losses that the company has previously reported have been stemmed. This is a business and a brand in transformation, laying a foundation at strategic and operational level that will allow it to grow on firm footings as we move forward to a bright and successful future."

Despite a marginal drop in the Group's revenue for the Period, it was a turnaround from loss to profit for the first time since the annual results for the year ended 30 June 2017. Unaudited profit attributable to the shareholders of the Company of approximately HK$121 million was recorded, as compared to the unaudited loss attributable to the shareholders of the Company of approximately HK$3,661 million for the Corresponding Period. Such a change is mainly attributable to:

— The improvement in sales resulting from e-commerce channels, along with a higher gross profit margin, for the Period as compared with that of the Corresponding Period;
— The increase in other income, which mainly included exchange gains of approximately HK$87 million for the Period;
— The positive results from the implementation of cost control measures by the Group; and
— The significant reduction of the negative impact on exceptional items during the Period.

Gross profit margin for the Period was approximately 46.9%, significantly higher than that of the Corresponding Period of approximately 36.0%; while operating expenses for the Period were approximately HK$1,906 million which is around 24% lower than the Corresponding Period. As at 30 June 2021, the Group recorded a net cash increase of approximately HK$360 million and remained nearly debt free with total outstanding loans of approximately HK$8 million.

The Company is now sitting on a firm financial footing with a healthier balance sheet, a new leadership team, a strategic plan for growth and a committed and dedicated global team. The team at Esprit are focused on improving processes, keeping operating costs to a minimum and targeting global growth opportunities, while the new leadership team is building a customer-centric culture with an entrepreneurial spirit. It is hoped that this, combined with the improvements to the Company's products, marketing, digital content and more, will put Esprit back on track to grow and regain the top market position.

Mr. DALEY Mark David, added, "The Company is in a truly unique position: A world-class, instantly recognizable brand, a large scale and functional business in Europe, and opportunities for global growth in the Americas and Asia Pacific. With the customer at the center of everything that we do, Esprit is very well positioned to once again become the market leader it deserves to be."

Ms. CHIU Christin Su Yi, Acting Executive Chairman, concluded, "The brand and business are growing, and the Company remains cautiously optimistic about the months ahead. The Group is confident that the Company is laying a foundation for profitable global growth. During the remainder of 2021, much of the Company's attention will be centered on acquiring and retaining customers and gaining market share."

About ESPRIT
Fueled by the vision of essential positivity, Esprit was founded in California by couple Susie and Doug Tompkins in 1968. Inspired by the revolutionary spirit of the 60s, the brand developed a clear philosophy – always celebrating real people and togetherness, in line with the brand's promise: "We want to make you feel good to look good". The success story of Esprit is based on two pillars: Delivering joy every day through laid-back tailored, high quality essentials and carefully selected fashion-forward pieces while staying true to its core values of sustainability, equality and freedom of choice. Example: In the early 90ies, long before "Eco Fashion" became fashionable, Esprit debuted its first "ecollection" made of 100% organic cotton and featured its own team instead of models in honor of their "Real People Campaign."

Keeping this spirit alive since day one, today Esprit has a presence in more than 30 countries around the globe. The Group has been listed on the Hong Kong Stock Exchange since 1993, and Esprit's global headquarters is located in Hong Kong.

The information contained herein is not a public issuance of securities. These materials do not contain or constitute an offer of securities for sale in the United States or to any "U.S. Person" as defined in Regulation S under the United States Securities Act of 1933, as amended (the "Act"). The securities referred to herein have not been and will not be registered under the Act, and may not be offered or sold in the United States absent registration under such Act or an available exemption from it.

Forward-Looking Statements
This press release contains certain forward-looking statements. Such forward-looking statements are subject to various risks and uncertainties, including without limitation, statements relating to our plans to transform the Company's business, make a significant investment in our businesses and achieve sustainable profitability in the future, and other risks and factors identified by us from time to time. Although the Group believes that the anticipations, beliefs, estimates, expectations and/or plan stated in this document are, to the best of its knowledge, true, actual events and/or results could differ materially. The Group cannot assure you that those current anticipations, beliefs, estimates, expectations and/or plan will prove to be correct and you are cautioned not to place undue reliance on such statements. The Group undertakes no obligation to publicly update or revise any forward-looking statements contained in this document, whether as a result of new information, future events or otherwise, except as required by the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited or any other applicable laws and regulations. All forward-looking statements contained in this document are expressly qualified by these cautionary statements.


Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Li Jiaqi – China’s “King of Livestreaming E-commerce” – Goes Global

HONG KONG, Aug 21, 2021 – (ACN Newswire) – Li Jiaqi, dubbed China's "King of Livestreaming E-commerce," is set to host a pioneering fashion show format at the iconic Shanghai K11 Art Mall on August 19-22. Li is taking Li Jiaqi WoW, his shopping information and recommendation program, offline for the first time, and will feature the involvement of five prominent Chinese designers, each based around the world. Through livestreaming, the audience will be able to communicate with the different designers as they open virtual "doors." The Shanghai show represents the beginnings of Li's grand vision as he looks to extend his influence on a global scale.

Li is China's most popular key opinion leader (KOL) in the livestreaming e-commerce industry – with nearly 170 million fans – and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, livestreaming e-commerce has grown in popularity in China. Outperforming all other shopping channels, its user scale reached 388 million till December 2020, 66.2% of whom bought products via this channel, China Internet Network Information Center (CNNIC) says.

Compared to traditional online shopping, livestreaming e-commerce provokes a greater consumer response through lively visual demonstrations, greater convenience, and more affordable price during the nationwide lockdown caused by the COVID-19 pandemic. Livestreaming e-commerce is especially popular during China's e-commerce festivals, such as the 618 Festival – a June festival run by many of China's e-commerce companies -with 14.2 billion views and over 100,000 brands involved in livestreaming influencer marketing in 2021.

At the heart of China's livestreaming e-commerce world as well as a contributor of such accomplishment, Li Jiaqi is a force of nature. Ever since entering the industry, Li has been a trendsetter, his opinions delivered with iconic style. A "Recommended by Li Jiaqi" endorsement can truly change a company's fortunes. Florasis, a Chinese makeup brand, was one such company, quadrupling its sales year-on-year to RMB 2.75 billion after partnering with Li, rocketing them the top of Chinese makeup brands for 2020. Leveraging his powerful influence, Li has led dozens of Chinese brands to nationwide popularity, leading to him being dubbed China's "top domestic product promoter."

Behind Li's to rise to fame are tags such as "Made in China," "makeup," and "lipstick," but deep down, Li has always had a greater ambition. In August last year, Li Jiaqi's team launched China's first livestreaming shopping information and recommendation program, Li Jiaqi WoW, a confluence of information on new products, available globally, across a number of categories. This shift to a more global focus is all part of Li's efforts to import designer brands around the world into China's market. Since then, Li Jiaqi WoW has aired nearly 50 episodes, eliciting a strong response across China's social platforms, such as Weibo, TikTok (Douyin), and Xiaohongshu (RED). The program is expected to further integrate offline channels as it looks to provide designers and brands with better opportunities for promotion.

Li's move of promoting international brands nationwide via his livestreaming channel has worked out favorably for most featured brands. In a Salvatore Ferragamo live broadcast, for example, two hundred Salvatore Ferragamo Creation handbags, priced at RMB 17,000 each, quickly sold out.

Li Jiaqi's story is not simply one of commerce and consumption, but also one that reveals the ongoing change in brand marketing and promotion in China followed by technological development and changes in Chinese people's consumption behavior.

As the "door" metaphorically implies in Li Jiaqi's new product launch, live streaming e-commerce breaks borders and boundaries of space via online and offline channels, and presents brands to the market at a minimum cost, maximizing benefits for both brands and consumers. The CNNIC stated in its report that livestreaming e-commerce users made up a mere 39% of China's netizen population as of December 2020. Given the country's total internet user population of 989 million, as well as its internet penetration rate of 70%, livestreaming e-commerce is certain to grow its market share in the coming years, with data analytics company iiMedia Research predicting that by 2025, China's livestreaming influencer-led e-commerce transaction volume will reach$1 trillion (RMB 6.4 trillion).




Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Livestreaming Mogul Li Jiaqi, International Brands Partner to Showcase New Products in Chinese Market

HONG KONG, Aug 21, 2021 – (ACN Newswire) – The arrival and subsequent evolution of livestreaming technology, and its integration with e-commerce, has radically changed China's consumer market. Different from traditional online shopping, livestreaming e-commerce features better experience and more interaction that increasingly more consumers are gravitating toward. Amid this fast-growing medium, one man stands king: Li Jiaqi.

Li, China's leading influencer in the livestreaming e-commerce space, has signaled his intentions for the future – the integration of online and offline elements. From August 19-22, Li will host a pioneering fashion show at the city's iconic Shanghai K11 Art Mall. The show, where Li Jiaqi WoW will be taken offline for the first time, will see Li invite five up-and-coming Chinese designers to interact with viewers. Aside from watching all the latest deals and products, viewers can also communicate with the participating designers via livestreaming screens, set behind interactive "doors."

Li is China's most popular key opinion leader (KOL) in the livestreaming e-commerce industry – with nearly 170 million fans – and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, livestreaming e-commerce has grown in popularity in China. Outperforming all other shopping channels, its user scale reached 388 million till December 2020, 66.2% of whom bought products via this channel, China Internet Network Information Center (CNNIC) says.

Compared to traditional online shopping, livestreaming e-commerce provokes a greater consumer response through lively visual demonstrations, greater convenience, and more affordable price during the nationwide lockdown caused by the COVID-19 pandemic. Livestreaming e-commerce is especially popular during China's e-commerce festivals, such as the 618 Festival – a June festival run by many of China's e-commerce companies -with 14.2 billion views and over 100,000 brands involved in livestreaming influencer marketing in 2021.

At the heart of China's livestreaming e-commerce world as well as a contributor of such accomplishment, Li Jiaqi is a force of nature. Ever since entering the industry, Li has been a trendsetter, his opinions delivered with iconic style. A "Recommended by Li Jiaqi" endorsement can truly change a company's fortunes. Florasis, a Chinese makeup brand, was one such company, quadrupling its sales year-on-year to RMB 2.75 billion after partnering with Li, rocketing them the top of Chinese makeup brands for 2020. Leveraging his powerful influence, Li has led dozens of Chinese brands to nationwide popularity, leading to him being dubbed China's "top domestic product promoter."

Behind Li's to rise to fame are tags such as "Made in China," "makeup," and "lipstick," but deep down, Li has always had a greater ambition. In August last year, Li Jiaqi's team launched China's first livestreaming shopping information and recommendation program, Li Jiaqi WoW, a confluence of information on new products, available globally, across a number of categories. This shift to a more global focus is all part of Li's efforts to import designer brands around the world into China's market. Since then, Li Jiaqi WoW has aired nearly 50 episodes, eliciting a strong response across China's social platforms, such as Weibo, TikTok (Douyin), and Xiaohongshu (RED). The program is expected to further integrate offline channels as it looks to provide designers and brands with better opportunities for promotion.

Li's move of promoting international brands nationwide via his livestreaming channel has worked out favorably for most featured brands. In a Salvatore Ferragamo live broadcast, for example, two hundred Salvatore Ferragamo Creation handbags, priced at RMB 17,000 each, quickly sold out.

Li Jiaqi's story is not simply one of commerce and consumption, but also one that reveals the ongoing change in brand marketing and promotion in China followed by technological development and changes in Chinese people's consumption behavior.

As the "door" metaphorically implies in Li Jiaqi's new product launch, live streaming e-commerce breaks borders and boundaries of space via online and offline channels, and presents brands to the market at a minimum cost, maximizing benefits for both brands and consumers. The CNNIC stated in its report that livestreaming e-commerce users made up a mere 39% of China's netizen population as of December 2020. Given the country's total internet user population of 989 million, as well as its internet penetration rate of 70%, livestreaming e-commerce is certain to grow its market share in the coming years, with data analytics company iiMedia Research predicting that by 2025, China's livestreaming influencer-led e-commerce transaction volume will reach$1 trillion (RMB 6.4 trillion).




Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Li Jiaqi, China’s “King of E-commerce Livestreaming,” to Host Interactive Fashion Show

HONG KONG, Aug 20, 2021 – (ACN Newswire) – Li Jiaqi, known for his successes as a livestreaming e-commerce influencer, is set to host a fashion show at the iconic Shanghai K11 Art Mallon August 19-22. The show will feature both online and offline elements, in line with recent shopping trends in China. By taking Li Jiaqi WoW, his personal shopping information and recommendation channel, offline for the first time ever, Li will encourage viewers to interact with the five participating up-and-coming Chinese designers, based around the world, via livestreaming behind the "door" (in Li Jiaqi's new product launch, the word "door" metaphorically implies the bridge between online and offline channels). Different from conventional livestreaming shows, Li Jiaqi's team has created an immersive showcase of interconnected livestreaming and e-commerce elements.

Li is China's most popular key opinion leader (KOL) in the livestreaming e-commerce industry – with nearly 170 million fans – and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, livestreaming e-commerce has grown in popularity in China. Outperforming all other shopping channels, its user scale reached 388 million till December 2020, 66.2% of whom bought products via this channel, China Internet Network Information Center (CNNIC) says.

Compared to traditional online shopping, livestreaming e-commerce provokes a greater consumer response through lively visual demonstrations, greater convenience, and more affordable price during the nationwide lockdown caused by the COVID-19 pandemic. Livestreaming e-commerce is especially popular during China's e-commerce festivals, such as the 618 Festival – a June festival run by many of China's e-commerce companies -with 14.2 billion views and over 100,000 brands involved in livestreaming influencer marketing in 2021.

At the heart of China's livestreaming e-commerce world as well as a contributor of such accomplishment, Li Jiaqi is a force of nature. Ever since entering the industry, Li has been a trendsetter, his opinions delivered with iconic style. A "Recommended by Li Jiaqi" endorsement can truly change a company's fortunes. Florasis, a Chinese makeup brand, was one such company, quadrupling its sales year-on-year to RMB 2.75 billion after partnering with Li, rocketing them the top of Chinese makeup brands for 2020. Leveraging his powerful influence, Li has led dozens of Chinese brands to nationwide popularity, leading to him being dubbed China's "top domestic product promoter."

Behind Li's to rise to fame are tags such as "Made in China," "makeup," and "lipstick," but deep down, Li has always had a greater ambition. In August last year, Li Jiaqi's team launched China's first livestreaming shopping information and recommendation program, Li Jiaqi WoW, a confluence of information on new products, available globally, across a number of categories. This shift to a more global focus is all part of Li's efforts to import designer brands around the world into China's market. Since then, Li Jiaqi WoW has aired nearly 50 episodes, eliciting a strong response across China's social platforms, such as Weibo, TikTok (Douyin), and Xiaohongshu (RED). The program is expected to further integrate offline channels as it looks to provide designers and brands with better opportunities for promotion.

Li's move of promoting international brands nationwide via his livestreaming channel has worked out favorably for most featured brands. In a Salvatore Ferragamo live broadcast, for example, two hundred Salvatore Ferragamo Creation handbags, priced at RMB 17,000 each, quickly sold out.

Li Jiaqi's story is not simply one of commerce and consumption, but also one that reveals the ongoing change in brand marketing and promotion in China followed by technological development and changes in Chinese people's consumption behavior.

As the "door" metaphorically implies in Li Jiaqi's new product launch, live streaming e-commerce breaks borders and boundaries of space via online and offline channels, and presents brands to the market at a minimum cost, maximizing benefits for both brands and consumers. The CNNIC stated in its report that livestreaming e-commerce users made up a mere 39% of China's netizen population as of December 2020. Given the country's total internet user population of 989 million, as well as its internet penetration rate of 70%, livestreaming e-commerce is certain to grow its market share in the coming years, with data analytics company iiMedia Research predicting that by 2025, China's livestreaming influencer-led e-commerce transaction volume will reach$1 trillion (RMB 6.4 trillion).



Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com

Li Jiaqi and Livestreaming, Unbound by Time or Space

HONG KONG, Aug 20, 2021 – (ACN Newswire) – Li Jiaqi, the most influential figure in China's livestreaming e-commerce space, recently announced his latest move – his hosting of a new fashion show at the iconic Shanghai K11 Art Mall, to be held between August 19-22. The show will feature five up-and-coming Chinese designers, based throughout the world, who will interact with visitors on the scene. It may sound like fantasy, but such reality is made possible through the implementation of livestreaming technology.

At the show, visitors can check out the 2021 autumn and winter collections, while at the same time interacting with the participating designers through opening relevant "doors." As an extension of Li Jiaqi WoW, Li Jiaqi's online live shopping information & recommendation program, the show promises an immersive experience unbound by time or space and different from the conventional live streaming studio partitioned by screens.

Li is China's most popular key opinion leader (KOL) in the livestreaming e-commerce industry – with nearly 170 million fans – and has driven sales of more than$430 million (RMB2.8 billion) in a single live broadcast. Since 2016, livestreaming e-commerce has grown in popularity in China. Outperforming all other shopping channels, its user scale reached 388 million till December 2020, 66.2% of whom bought products via this channel, China Internet Network Information Center (CNNIC) says.

Compared to traditional online shopping, livestreaming e-commerce provokes a greater consumer response through lively visual demonstrations, greater convenience, and more affordable price during the nationwide lockdown caused by the COVID-19 pandemic. Livestreaming e-commerce is especially popular during China's e-commerce festivals, such as the 618 Festival – a June festival run by many of China's e-commerce companies -with 14.2 billion views and over 100,000 brands involved in livestreaming influencer marketing in 2021.

At the heart of China's livestreaming e-commerce world as well as a contributor of such accomplishment, Li Jiaqi is a force of nature. Ever since entering the industry, Li has been a trendsetter, his opinions delivered with iconic style. A "Recommended by Li Jiaqi" endorsement can truly change a company's fortunes. Florasis, a Chinese makeup brand, was one such company, quadrupling its sales year-on-year to RMB 2.75 billion after partnering with Li, rocketing them the top of Chinese makeup brands for 2020. Leveraging his powerful influence, Li has led dozens of Chinese brands to nationwide popularity, leading to him being dubbed China's "top domestic product promoter."

Behind Li's to rise to fame are tags such as "Made in China," "makeup," and "lipstick," but deep down, Li has always had a greater ambition. In August last year, Li Jiaqi's team launched China's first livestreaming shopping information and recommendation program, Li Jiaqi WoW, a confluence of information on new products, available globally, across a number of categories. This shift to a more global focus is all part of Li's efforts to import designer brands around the world into China's market. Since then, Li Jiaqi WoW has aired nearly 50 episodes, eliciting a strong response across China's social platforms, such as Weibo, TikTok (Douyin), and Xiaohongshu (RED). The program is expected to further integrate offline channels as it looks to provide designers and brands with better opportunities for promotion.

Li's move of promoting international brands nationwide via his livestreaming channel has worked out favorably for most featured brands. In a Salvatore Ferragamo live broadcast, for example, two hundred Salvatore Ferragamo Creation handbags, priced at RMB 17,000 each, quickly sold out.

Li Jiaqi's story is not simply one of commerce and consumption, but also one that reveals the ongoing change in brand marketing and promotion in China followed by technological development and changes in Chinese people's consumption behavior.

As the "door" metaphorically implies in Li Jiaqi's new product launch, live streaming e-commerce breaks borders and boundaries of space via online and offline channels, and presents brands to the market at a minimum cost, maximizing benefits for both brands and consumers. The CNNIC stated in its report that livestreaming e-commerce users made up a mere 39% of China's netizen population as of December 2020. Given the country's total internet user population of 989 million, as well as its internet penetration rate of 70%, livestreaming e-commerce is certain to grow its market share in the coming years, with data analytics company iiMedia Research predicting that by 2025, China's livestreaming influencer-led e-commerce transaction volume will reach$1 trillion (RMB 6.4 trillion).



Copyright 2021 ACN Newswire. All rights reserved. http://www.acnnewswire.com