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Translated by
Nicola Mira
Published
Nov 9, 2017
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Lalique Group inks Hong Kong deal to boost China presence

Translated by
Nicola Mira
Published
Nov 9, 2017

To strengthen its presence on Asian markets, Swiss luxury crystalware group Lalique has recently signed a strategic partnership deal with Damian Ltd, a Hong Kong-based company which represents a pool of Chinese investors defined as "notable", though their identity was not disclosed.



The Noir Premier fragrance from the Terres Aromatiques range, by Lalique - DR


The deal will reportedly become operational in January 2018, bringing financial resources worth €20 million to the Swiss luxury group. The first step is a share capital increase, through the issue of 997,300 shares, of which 380,000 will be underwritten by Damian Ltd for the sum of CHF11.4 million (€9.8 million), pending the shareholders' approval. The partnership also involves the signing of a joint-venture agreement between Lalique China, a subsidiary of Lalique Group, and Damian Ltd. The latter will invest €10 million in the joint venture, in which Lalique will hold a 51% stake.

These operations will allow Zurich-based Lalique Group to boost the distributive footprint for its crystalware and jewellery across China, and to adapt its products targeting the interior decoration, art and hotel/catering industries to the specific requirements of the Chinese market.

In the first six months of 2017, the Lalique group generated a revenue of €64.2 million, equivalent to a 9% rise. To further boost its business in Asia, the group recently announced a strategic partnership with Singapore Airlines, which is set to start next January.
 

 
 

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