L’Officiel Global successfully acquired the Philippines business to add one more country to direct owner’s model on a worldwide basis

Rhea-AI Summary

AMTD Group has successfully acquired the franchisee operating L’Officiel’s Philippines business, expanding its direct owner's model. The acquisition aims to strengthen the L’Officiel brand and enhance global brand values and consistency.

Positive

• AMTD Group has successfully acquired the franchisee operating L’Officiel’s Philippines business, expanding its direct owner's model.
• The acquisition aims to strengthen the L’Officiel brand and enhance global brand values and consistency.

Negative

• None.

PARIS--(BUSINESS WIRE)-- AMTD Group, AMTD IDEA Group (NYSE: AMTD; SGX: HKB) and AMTD Digital Inc. (NYSE: HKD) jointly (altogether known as “AMTD”) announced that the franchisee operating the L’Officiel’s Philippines business, including both digital and social platforms as well as prints of L’Officiel and L’Officiel Hommes, has been successfully acquired by AMTD.

Philippines represents another country in South East Asia in which AMTD has successfully transformed and developed into a direct owner’s model to deliver a global brand’s unity and consistency under the L’Officiel brand which carries an over 100-years of heritage from France as one of the oldest fashion media globally.

AMTD announced the roll-out of the AMTD World Media and Entertainment Group ("AMTD WME") earlier with L’Officiel being a predominant media IP and global businessuser of WME. The continued expansion of direct owner’s model globally as well as the escalated focus into more counties and cities in Asia on top of the currently comprehensive footprint in China, Korea, Singapore, Malaysia, Vietnam, Thailand, Philippines, etc., have all contributed to further strengthening of the L’Officiel brands into a new era under AMTD’s global ownership.

Danyl Geneciran, Editor-in-Chief for L'Officiel Philippines, commented, “Times have changed in fashion publishing and L’Officiel rises to this challenge by continuing to bring value to its readers. With AMTD’s acquisition of L’Officiel Philippines, this positions the Brand not just as a fashion platform, but as a leader in the realm of modern media innovation. I look forward to being part of the AMTD family and evolving the way the team works through ideas.”

Denise Lau, Head of Strategy and Partnership of AMTD WME, and Asia Managing Director of L’Officiel Inc. SAS, commented, “We extend a warm welcome to the Philippines team on behalf of L’Officiel Global. We are confident that the ongoing implementation of the direct owner’s model on a global scale will significantly enhance our global IP’s brand values and consistency. Under AMTD ownership, we are committed to consistently deliver exceptional services and innovative ideas to our esteemed clients.”

Aileen Soh, Managing Director – South East Asia of L’Officiel Inc. SAS, commented, “We are happy to announce that L’Officiel Philippines is now under the direct owner's model. The L’Officiel SEA team is committed in supporting L'Officiel Philippines and rolling it into our L’Officiel Asia network to deliver our combined solutions to every client and brands.”

About AMTD Group

AMTD Group is a conglomerate with core business portfolio to span across financial services, digital solutions, media and entertainment, education and training, and premium assets.

About AMTD IDEA Group

AMTD IDEA Group, formerly known as AMTD International Inc. (NYSE: AMTD; SGX: HKB) represents a diversified institution and digital solutions group connecting companies and investors with global capital markets. Its comprehensive one-stop business services plus digital solutions platform addresses different clients’ diverse and inter-connected business needs and digital requirements across all phases of their life cycles as well as hospitality and VIP services. Through our unique eco-system — the "AMTD SpiderNet" — AMTD IDEA Group is uniquely positioned as an active superconnector between clients, business partners, investee companies, and investors, connecting the East and the West. For more information, please visit www.amtdinc.com or follow us on Twitter at @AMTDGroup.

About AMTD Digital Inc.

AMTD Digital Inc. (NYSE: HKD) is a comprehensive digital solutions platform headquartered in France. Its one-stop digital solutions platform operates four main business lines including digital solutions services, digital media, content and marketing services, digital investments as well as hospitality and VIP services. It is the fusion reactor at the core of the AMTD SpiderNet ecosystem and empowers and integrates the various digital businesses within its ecosystem. For AMTD Digital’s announcements, please visit https://ir.amtdigital.net/investor-news.

Safe Harbor Statement

This press release contains statements that may constitute “forward-looking” statements pursuant to the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “aims,” “future,” “intends,” “plans,” “believes,” “estimates,” “likely to,” and similar statements. Statements that are not historical facts, including statements about the beliefs, plans, and expectations of AMTD Digital Inc., are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. Further information regarding these and other risks is included in the filings of AMTD Digital Inc. with the SEC. All information provided in this press release is as of the date of this press release, and AMTD Digital Inc. does not undertake any obligation to update any forward-looking statement, except as required under applicable law.

View source version on businesswire.com: https://www.businesswire.com/news/home/20230817083645/en/

For AMTD IDEA Group:

IR Office

AMTD IDEA Group

EMAIL: ir@amtdinc.com

For AMTD Digital Inc.:

IR Office

AMTD Digital Inc.

EMAIL: ir@amtdigital.com

Source: AMTD Digital Inc.

FAQ

What is the significance of AMTD's acquisition of L’Officiel’s Philippines business?

The acquisition aims to strengthen the L’Officiel brand and enhance global brand values and consistency.

What is the direct owner's model?

The direct owner's model refers to AMTD's ownership of L'Officiel Philippines, allowing for a unified global brand experience.

How will the acquisition affect L’Officiel's clients and brands?

The acquisition will allow L’Officiel Philippines to be integrated into the L’Officiel Asia network, providing combined solutions to clients and brands.