Insiders: ANTA to acquire children's wear brand for HKD60m

Insiders have said that Chinese sporting goods manufacturer ANTA are trying to acquire KINGKOW, a children's wear brand based in Hong Kong, at a price of HKD 60 million (RMB50M, US$7.7m). 

ANTA started their children's wear brand "ANTA KIDS" in 2008 and it has been one of the major drivers of ANTA's business. Over the years, ANTA has seen great growth in its children's wear business. ANTA's 2017 interim report shows that the amount of ANTA KIDS' stores has increased to over 2100, 10 times more than in 2009.

Founded in 1998, KINGKOW is a children's wear brand famous for its colourful style. According to the KINGKOW official website, there are 150 KINGKOW stores currently in Asia. Media have reported that there were other brands bidding to acquire KINGKOW, with ANTA winning the bidding stage for its strong selling system and branding ability.

Source: sohu 

Proofread by Raymond Fitzpatrick