World-Renowned PE Giants Inject Chinese Clothing Retailers NOVO

In August 21st, the world-renowned PE giant KKR announced that its management focused on the KKR China Growth Fund, which invested in the Chinese market, recently injected capital into NOVO Holdings Limited (NOVO) with an injection amount of US $30 million.

It is reported that NOVO was founded in 2004 by the company's current chairman and chief executive officer Ren Jie, a target group in China, aged 18-30.

Retailer。

The company specializes in selling urban youth fashion.

The franchised chain store with accessories has opened 11 main stores in shopping centers and department stores in some major cities.

In addition, the company has a series of international fashion and brand accessories retail franchise, currently has more than 80 "LeSportsac" and other brand stores.

Fang Renjie said that NOVO is positioned in the Chinese youth fashion apparel market which has not received enough attention at present. It plans to expand the main chain store business in the next few years and develop itself.

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"Historically, retail businesses that have cooperated with KKR have achieved outstanding growth. Therefore, we firmly believe that with the help of KKR's expertise and local operation knowledge in the retail industry, this cooperation will surely push us to achieve greater business development and consolidate the position of the industry leader."

"We see domestic consumption demand and the latest.

The demand for integration continues to grow.

Driven by this, China's fashion retailing industry has huge and long-term potential for development.

At present, China's youth clothing retail market has a scale of 38 billion US dollars, and has been growing at an annual average growth rate of 16% since 2005.

NOVO has created a unique business model. Its huge store network and supply chain relationship enable it to gain long-term profits from the growing demand for Chinese youth fashion apparel market.

KKR global partners and greater China President Liu Haifeng pointed out.

Since its first investment in the retail industry in 1981, KKR has completed 21 pactions in the global retail industry (including "Dollar General"), with a total investment of US $60 billion and investment.

Business types include supermarkets, drugstores, department stores, food distribution companies and retail stores.