Hasen And Shanghai Hyun Ho Will Become A Joint Venture Company.

Korean cosmetic enterprise Too Cool for School

(hereinafter referred to as "TCFS") announced recently that

Listed company

Shanghai Shanghai Hyun ho International Trade Co., Ltd., which is invested by Limited by Share Ltd and TCFS, will turn it into a joint venture company. Shanghai Hyun ho will take over the operation of China's online and offline market in an all-round way.

It is understood that before, Shanghai Hyun Ho as Hasen group's wholly-owned two level subsidiary, from 2013, introduced TCFS cosmetics from South Korea, and the establishment of sales outlets and product sales.

After becoming a joint venture company, the business scope of Shanghai Hyun ho has been reduced from import and export business, electronics sales to cosmetic wholesale, retail (commission agent), online sales cosmetics, commercial franchised cosmetics sales (franchising) and so on.

TCFS cosmetics have been sold in 11 countries, and independent retail outlets in 6 countries are popular for low cost and high cost performance.

Sales amounted to about 206 million yuan last year.

Coincidentally, last year, the domestic high-end fashion brand Langer shares also layout Han makeup, smashed 330 million yuan into the South Korean mask Mei Di Hui parent company.

In this regard, the industry believes that deep in the mire of performance, the domestic shoe and clothing enterprises have been fighting.

However, clothing industry expert, independent garment analyst Ma Gang believes that overweight Korean makeup can have a positive impact on its performance, it remains to be tested by time.

"Japan and South Korea brand has great influence on the trend, but many of them have entered the Chinese market. There are not many brands to choose from, but a little strength and no access to the domestic market naturally become the preferred partners for shoes and clothing enterprises."

Ma Gang believes that the domestic shoes and clothing brands which cooperate with foreign brands are not ideal in recent years, and relatively good results in the short term are not very realistic.

The introduction of TCFS did not lead to the performance of Shanghai Hyun Ho and Hasen group.

Last year, Shanghai Hyun ho earned 7 million 600 thousand and 800 yuan in the first half of the year, with a net profit loss of 4 million 94 thousand and 900 yuan.

Hasen group's operating income in the first half of fiscal year decreased by 178 million yuan, down 17.08%, and operating profit dropped 36.24%.

In addition, in the first half of the year, both revenue and net profit declined.