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Jiuding Investment, a local private equity firm that previously invested in First Niuchi Jifeng Agricultural Machinery on the Growth Enterprise Market (GEM), has made another strategic move by announcing a 50 million yuan investment in Shenzhen Wissmann Garments Co., Ltd. This marks Jiuding’s first major foray into the apparel industry, an area traditionally seen as a weak spot within the consumer goods sector. The company has expressed its intention to continue exploring opportunities in the fashion market.
The investment comes after Jiuding gained attention for its involvement with Jifeng Agricultural Machinery. On December 20th, the firm revealed its new interest in Wissmann, a women's fashion clothing company based in Zhuhai. Wissmann specializes in producing women's apparel and sweaters, with a strong presence in the Pearl River Delta region. The company currently operates over 400 chain stores and generates annual sales of approximately 400 million yuan, with an output of more than 6 million sweaters per year.
Wissmann’s chairman, Xie Qiuhe, emphasized the company’s long-standing history since its founding in 1987. He noted that while the company has experienced steady growth, it has done so at a slow pace. The introduction of Jiuding as a strategic investor is expected to accelerate Wissmann’s development and help it enter a "fast-moving" phase.
In addition, Wissmann is actively preparing for an IPO, having developed two different plans to list on either the Small and Medium Enterprise Board or the GEM by the end of next year. The funds from both the investment and the IPO will be primarily used for expanding retail channels, with the goal of opening 300 new stores in East and North China. The aim is to become a leading brand in the Chinese women’s fashion market.
Jiuding’s Chairman, Huang Xiaojie, explained the rationale behind the investment, highlighting the potential of consumption upgrading and the growing purchasing power of women aged 25 to 35. He expressed confidence in the future of domestic women’s fashion brands in China and said that Jiuding is open to further investments in the sector if the right opportunities arise.
Huang also declined to disclose the exact shareholding percentage of Wissmann following the investment, stating that details would be revealed in the company’s prospectus if the IPO is successful. He added that while Jiuding is not ruling out additional investments, it believes that supporting Wissmann’s growth could be mutually beneficial.
Shaoxing Aiyi Textile Co., Ltd. , https://www.aiyitextile.com