Belle Signs Agreement with BATA to Acquire BATA Shoes for Mainland Sales

"Financial Times" reported that the mainland women's shoes retailer Belle Group plans to raise $ 800 million in listings in Hong Kong in the first half of next year, and the funds will be used to expand business outlets in the Mainland. The company has also appointed Morgan Stanley and Credit Suisse as listed sponsors, of which Morgan Stanley holds approximately 6% of Belle. Belle is a well-known shoe company in the Mainland. Currently, it operates more than 2,500 stores in China and Hong Kong. Among them, nearly 1,000 are flagship brand stores under the name of Belle, and the rest are run by brands such as Teenmix, Stac-cato or Joy & Peace. In early November of this year, Belle just signed an agreement with the world's oldest shoe company, BATA. In the next 10 years, BATA will be the sole agent of sales of BATA shoes in the Mainland.