Retailer Forward Fashion Holdings Launches HKEX Global Offering

Duff & Phelps congratulates Forward Fashion (International) Holdings Company, Ltd. (2528.HK) for its successful global offering at the Hong Kong Stock Exchange on January 13, 2020.

Founded in 2005, Forward Fashion Holdings is a major fashion apparel retailer in Greater China dealing with international brands from established designer label brands, popular global brands and rising stars in the fashion industry.

As of 21 December 2019, Forward Fashion Holdings operates 215 retail stores in Greater China (182 mono-brand retail stores and 33 multi-brand retail stores). The company’s 113-strong brand portfolio includes international icons like BLACKBARRETT, CK CALVIN KLEIN, Calvin Klein Jeans, Calvin Klein Performance, Calvin Klein Underwear, EA7, Ed Hardy, Hogan, Moschino, Neil Barrett, Philipp Plein, Tommy Hilfiger and Under Armour as well as its own brands like UM, UM•IXOX and IXOX.

According to the Frost & Sullivan Report, Forward Fashion Holdings ranked first among apparel distributors in Macau in terms of retail sales value in 2018, with a market share of approximately 4.3%. In the same time period, the company reported a market share of 0.02% in the Mainland China market. The company reported total revenue of HKD 1.34 billion for the year ended 31 December 2018.

Forward Fashion Holdings intends to use the expected net proceeds of the global offering (approximately HKD 130.9 million) for the following purposes: to open 51 additional retail stores in Greater China, to upgrade existing retail stores in Mainland China and Macau, and to expand and develop its brand portfolio, among other goals.

Duff & Phelps was engaged as a professional independent valuer for the Forward Fashion (International) Holdings Company, Ltd. for its Global Offering.