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Neo-Concept International Group Holdings Limited (NCI) delivers integrated apparel supply chain solutions for global brands. This news hub provides investors and industry professionals with essential updates on operational developments, financial performance, and strategic initiatives.
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Neo-Concept International (NCI) has announced the soft opening of its first Les100Ciels store in the Middle East and North Africa (MENA) region at The Galleria Al Maryah Island in Abu Dhabi on March 27, 2025. This expansion follows the company's joint venture with Liwa Trading Enterprises to enhance its retail presence in MENA markets.
The launch includes both the physical store and a new Middle East e-shop, marking a strategic move to provide an integrated online and in-store shopping experience for MENA customers. This represents the brand's first store opening outside of London, signifying a significant step in Les100Ciels' international expansion strategy.
Neo-Concept International Group Holdings (Nasdaq: NCI) has received a second grace period from Nasdaq to meet the minimum bid price requirement. The company was granted an additional 180 calendar days, until July 7, 2025, to regain compliance with the $1 per share minimum bid price requirement under Nasdaq Listing Rule 5550(a)(2).
If NCI fails to meet compliance by the deadline, Nasdaq Staff will notify the company of delisting, though NCI would have the option to appeal this decision to a Hearings Panel. The company is currently evaluating various strategies to achieve compliance but acknowledges there is no guarantee of success.
Neo-Concept International Group Holdings (NCI) reported its H1 2024 unaudited financial results, showing revenue of HK$79.3 million (US$10.2 million), a 1.7% increase from H1 2023. The company achieved a net income of HK$1.4 million (US$0.2 million), compared to a net loss of HK$5.2 million in the same period last year.
Retail sales of owned-branded apparel in the UK surged by 95.3% to HK$11.5 million, driven by new London retail outlets. However, private-labeled apparel sales decreased by 5.9% to HK$67.8 million. Operating expenses increased 12.7% to HK$15.9 million due to higher staff costs and expansion-related expenses. Basic and diluted EPS improved to HK$0.07 from a loss of HK$0.29 in H1 2023.
Neo-Concept International Group Holdings (Nasdaq: NCI) has launched its collaborative collection 'REISS x Les100Ciels' through REISS's eShop and select retail locations. The collection, developed through NCI's subsidiary Neo-Concept UK in partnership with REISS , features co-branded ready-to-wear apparel for both men and women. The collaboration combines both brands' expertise in luxury and style, with NCI contributing its product design capabilities and REISS providing its retail network. The collection is now available for purchase on www.reiss.com.
Neo-Concept International Group Holdings (Nasdaq: NCI) has formed a joint venture, Lineowa Fashion and Lifestyle , with Liwa Trading Enterprises to expand into UAE and GCC retail markets. The venture plans to launch an e-commerce platform by end-2024, initially featuring NCI's Les100Ciels brand products. The company aims to open its first physical store in UAE by Q1 2025, with plans for additional locations throughout UAE and other GCC markets. The partnership combines NCI's design and supply chain capabilities with Liwa's distribution network for retail, wholesale, and e-commerce operations.
Neo-Concept International Group Holdings (Nasdaq: NCI) has successfully completed a transformative acquisition from its affiliate, Neo-Concept (Holdings) Company (NCH). This strategic move grants NCI full ownership of the 'Les100Ciels' and 'SIU' brands, along with all related trademarks and trade names. The acquisition also includes the transfer of NCH's R&D teams, bolstering NCI's innovation capabilities.
Miss Eva Siu, Chairlady and CEO of NCI, emphasized that this acquisition equips the company to drive growth, particularly in the Middle East market. Mr. Patrick Lau, NCI's CFO, highlighted the financial benefits, noting that the move simplifies operational structure and positions the company to maximize shareholder returns as it expands its global retail footprint.
With the asset transfer complete, NCI is poised to leverage its enhanced capabilities to deliver innovative products and exceptional customer experiences worldwide.
Neo-Concept International Group Holdings (NCI) announced a Joint Venture Agreement (JVA) with Liwa Trading Enterprises to expand their apparel footprint in the MENA region. Effective July 8, 2024, the JVA formalizes the terms of a previously announced MOU. This partnership will combine NCI's design expertise with Liwa's market knowledge and distribution network to enhance retail, wholesale, and e-commerce operations across countries like UAE, Saudi Arabia, and Egypt. The joint venture aims to start operations by Q4 2024 and targets rapid market expansion and innovative apparel offerings.
Neo-Concept International Group Holdings (Nasdaq: NCI) announced it received a notification from Nasdaq on July 8, 2024, indicating the company has failed to meet the minimum bid price requirement of $1 per share for its ordinary shares, as stipulated by Nasdaq Listing Rules 5550(a)(2). The deficiency covers the period from May 21, 2024, to July 5, 2024, but the company's shares remain listed for now.
Nasdaq has granted NCI a compliance period of 180 calendar days, ending January 6, 2025, to rectify the issue. Should NCI fail to regain compliance within this period, they may qualify for an additional 180 days if they meet other criteria, including market value of publicly held shares, and notify Nasdaq of their intention to address the deficiency, possibly through a reverse stock split.
If NCI cannot meet the requirements or fails to qualify for the additional compliance period, Nasdaq will move to delist the company's shares. The company is actively exploring options to comply with Nasdaq's rules but can offer no guarantee of success.
Neo-Concept International Group Holdings (Nasdaq: NCI) announced a transformative acquisition by signing an Asset Purchase Agreement (APA) to acquire IP and R&D capabilities from its affiliated company, Neo-Concept (Holdings).
This acquisition includes the valuable 'Les100Ciels' and 'SIU' brands along with their trademarks and R&D teams.
NCI aims to enhance its control over these brands, particularly to expand in the Middle East markets. CEO Eva Siu and CFO Patrick Lau emphasized that owning these assets will eliminate costly royalties and licensing uncertainties, thus maximizing shareholder value.
The asset transfer is set to complete within six months, marking a significant step towards the company's dynamic growth plans.
Neo-Concept International Group Holdings (NCI) announced a collaboration with Reiss to launch a co-branded product line, “REISS x Les100Ciels”.
Under this agreement, NCI's subsidiary Neo-Concept UK will handle manufacturing while Reiss will distribute through its extensive retail network.
The partnership, which takes effect immediately, aims to leverage each company's strengths to create unique products and expand market reach.
The first products are expected in Q4 2024, targeting markets including the US, UK, UAE, and Canada.
