NCI and Liwa Trading Enterprises LLC Launch Joint Venture: Target to Debut E-Shop by Year-End
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) ha formato una joint venture, Lineowa Fashion and Lifestyle, con Liwa Trading Enterprises per espandere la propria presenza nei mercati retail degli Emirati Arabi Uniti e del GCC. La joint venture prevede di lanciare una piattaforma di e-commerce entro la fine del 2024, inizialmente offrendo i prodotti del marchio Les100Ciels di NCI. L'azienda mira ad aprire il suo primo negozio fisico negli Emirati Arabi Uniti entro il primo trimestre del 2025, con piani per ulteriori aperture in tutto il paese e in altri mercati del GCC. La partnership combina le capacità di design e della catena di approvvigionamento di NCI con la rete di distribuzione di Liwa per le operazioni retail, all'ingrosso e di e-commerce.
Neo-Concept International Group Holdings (Nasdaq: NCI) ha formado una empresa conjunta, Lineowa Fashion and Lifestyle, con Liwa Trading Enterprises para expandirse en los mercados minoristas de los EAU y del CCG. La empresa planea lanzar una plataforma de comercio electrónico para finales de 2024, inicialmente presentando productos de la marca Les100Ciels de NCI. La compañía tiene como objetivo abrir su primera tienda física en los EAU para el primer trimestre de 2025, con planes para ubicaciones adicionales en todo el EAU y otros mercados del CCG. La asociación combina las capacidades de diseño y de cadena de suministro de NCI con la red de distribución de Liwa para operaciones minoristas, mayoristas y de comercio electrónico.
네오컨셉 인터내셔널 그룹 홀딩스 (Nasdaq: NCI)는 리와 트레이딩 엔터프라이즈와 함께 아랍에미리트(UAE) 및 걸프협력회의(GCC) 소매 시장으로 확장을 위한 합작 투자, 라인노와 패션 및 라이프스타일을 설립했습니다. 이 합작 기업은 2024년 말까지 NCI의 Les100Ciels 브랜드 제품을 초기로 하는 전자상거래 플랫폼을 출시할 계획입니다. 회사는 2025년 1분기까지 UAE에 첫 번째 물리적 매장을 열고, UAE와 다른 GCC 시장에 추가 매장을 열 계획입니다. 이번 파트너십은 NCI의 디자인 및 공급망 역량과 리와의 리테일, 도매 및 전자상거래 운영을 위한 유통망을 결합합니다.
Neo-Concept International Group Holdings (Nasdaq: NCI) a formé une coentreprise, Lineowa Fashion and Lifestyle, avec Liwa Trading Enterprises pour s'étendre sur les marchés de détail des Émirats Arabes Unis et du CCG. L'entreprise prévoit de lancer une plateforme de commerce électronique d'ici fin 2024, présentant initialement les produits de la marque Les100Ciels de NCI. L'entreprise vise à ouvrir son premier magasin physique aux Émirats Arabes Unis d'ici le premier trimestre de 2025, avec des plans pour d'autres emplacements dans tout le pays et sur d'autres marchés du CCG. Le partenariat combine les capacités de design et de chaîne d'approvisionnement de NCI avec le réseau de distribution de Liwa pour les opérations de vente au détail, de gros et de commerce électronique.
Neo-Concept International Group Holdings (Nasdaq: NCI) hat ein Joint Venture, Lineowa Fashion and Lifestyle, mit Liwa Trading Enterprises gegründet, um in die Einzelhandelsmärkte der VAE und des GCC zu expandieren. Das Joint Venture plant, bis Ende 2024 eine E-Commerce-Plattform zu starten, die zunächst Produkte der Marke Les100Ciels von NCI anbieten wird. Das Unternehmen möchte bis zum ersten Quartal 2025 sein erstes physisches Geschäft in den VAE eröffnen und plant weitere Standorte in den VAE und anderen GCC-Märkten. Die Partnerschaft kombiniert NCIs Design- und Lieferkettenfähigkeiten mit Liwas Vertriebsnetz für Einzelhandel, Großhandel und E-Commerce-Operationen.
- Strategic expansion into UAE and GCC markets through joint venture
- E-commerce platform launch planned for end-2024
- First physical store opening targeted for Q1 2025
- Partnership leverages Liwa's established distribution network
- None.
Insights
The joint venture with Liwa Trading Enterprises represents a strategic market entry into the lucrative UAE and GCC retail markets. The GCC's retail sector is experiencing robust growth, driven by high disposable incomes and digital transformation. The e-commerce launch by year-end is timely, as the UAE's online retail market is projected to reach
Partnering with Liwa, an established regional player, provides NCI immediate access to local market expertise and distribution networks, significantly reducing market entry barriers. The phased approach - starting with e-commerce before physical stores - is a cost-effective strategy to build brand awareness and test market response. However, success will depend on effective localization and competing with established luxury retailers in the region.
HONG KONG, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Neo-Concept International Group Holdings Limited (Nasdaq: NCI) is thrilled to announce the successful establishment of its joint venture, Lineowa Fashion and Lifestyle LLC, with Liwa Trading Enterprises LLC. This exciting collaboration marks a significant step in NCI’s strategy to enhance its footprint in the UAE and the Gulf Cooperation Council (GCC) retail markets.
We are targeting to launch our e-commerce platform by the end of this year, initially featuring our own branded products, Les100Ciels. This e-shop will serve customers across the entire GCC region, providing a seamless online shopping experience for our unique apparel collection. Additionally, we are diligently working to secure a prime location for our first physical store in the UAE, with the goal of opening in the first quarter of 2025. Following the launch of the e-shop and our first physical store, we plan to expand with additional locations throughout the UAE and, in due course, explore opportunities in other GCC markets.
“Our partnership with Liwa empowers us to bring Les100Ciels to a wider audience,” stated Ms. Eva Siu, Chairlady of the Board of Directors and Chief Executive Officer of NCI. “We’re excited to offer our customers an exceptional shopping experience both online and in-store.”
Mr. Patrick Lau, Chief Financial Officer of NCI, emphasized the strategic advantages of the collaboration: “With Liwa’s extensive market expertise and established presence, we are confident that this joint venture will create value for the company moving forward.”
This joint venture will focus on retail, wholesale, distribution, and e-commerce operations across the UAE and GCC, combining NCI’s design and supply chain strengths with Liwa’s robust distribution network.
Stay tuned for further updates as we approach the launch of our e-shop and unveil our first physical location.
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FORWARD-LOOKING STATEMENTS
Certain statements contained in this press release are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company’s current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the strength of the economy, changes to the market for securities, political or financial instability and other factors which are set forth in the Company’s Registration Statement on Form F-1 (File No. 333-275242), as amended, and in all filings with the SEC made by the Company subsequent to the filing thereof. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.
About Liwa Trading Enterprises LLC
Liwa Trading Enterprises LLC is a subsidiary of Al Nasser Holdings, a prominent UAE-based conglomerate. Established in 1987, Liwa was founded to build a presence in the retail sector. Over the years, Liwa has developed a diverse retail portfolio across fashion, footwear, accessories, and home categories. The company operates 20 international brands with 250 stores throughout the GCC region.
Liwa's market expertise has enabled successful franchise partnerships, allowing it to cater to evolving consumer needs and provide a best-in-class retail experience. From a single store opening in Abu Dhabi in 1987, Liwa has grown to become a significant regional player.
Upholding Al Nasser Holdings' vision, Liwa remains committed to delivering exceptional customer experiences and expanding its brand portfolio to meet market demands.
For more information, please visit www.liwastores.com
About Neo-Concept International Group Holdings Limited
Neo-Concept International Group Holdings Limited (“NCI”) is a one-stop apparel solution services provider. It offers a full suite of services in the apparel supply chain, including market trend analysis, product design and development, raw material sourcing, production and quality control, and logistics management serving customers located in the European and North American markets. It also sells its own branded apparel products under the brand “Les100Ciels” through retail stores in UK as well as the e-commerce platform www.les100ciels.com.
NCI is dedicated to minimizing its environmental footprint by implementing various eco-friendly practices. It prioritizes recycling, clean processes, and traceable sourcing as part of its commitment to reducing environmental impact. Additionally, NCI actively seeks sustainable solutions throughout the garment production process, aiming to meet the needs of its customers in an environmentally responsible manner.
Enquiries:
Neo-Concept International Group Holdings Limited Investor Relations Contact:
10/F, Seaview Centre
No.139-141 Hoi Bun Road
Kwun Tong, Kowloon, Hong Kong
(+852) 2798-8639
Email: ir@neo-ig.com
FAQ
When will NCI launch its e-commerce platform in UAE?
What is NCI's expansion plan in the UAE market?
What is the purpose of NCI's joint venture with Liwa Trading Enterprises?
Which brand will NCI initially sell on its UAE e-commerce platform?
