Hembly close to completing Tacchini buy

HONG KONG: Hembly close to completing Tacchini buy

By just-style.com | 6 December 2007

Hong Kong based Hembly International Holdings, which is currently in the process of buying the Italian Sergio Tacchini sportswear brand, is close to completing the deal.

The company's chairman Mr Ngok Yan Yu, yesterday (5 December) told Dow Jones Newswires that the acquisition should be completed by mid-January.

The purchase would make Ngok the first Chinese businessman to own an international Italian apparel brand.

Ngok revealed in May that he was buying Sergio Tacchini, which is best known for its tennis related sportswear.

At the time he said the acquisition would broaden Hembly's revenue base and give "strong momentum to future business growth."

Hembly currently supplies products to Tacchini, but Ngok says he intends to develop the Group into its exclusive sourcing supplier/agent in the Asian region.

Hembly offers supply-chain, distribution and retailing services for a range of Italian brands like Benetton, Moschino and Lotto.

Sectors: Apparel

Companies: Hembly, Benetton, Moschino, Lotto