Chinese apparel company Bosideng, through its subsidiary Talent Shine International, has invested 150 million yuan (US$24.5 million) to acquire 30 per cent stake in Shenzhen Bangbao Fashion Wear Company.

Shenzhen Bangbao Fashion Wear Company owns a high-end ladies’ wear brand Buou Buou, which have 113 self-operated stores and counters as well as 127 franchised stores.

With the Bosideng funds, Bangbao plans to add 80 self-operated Buou Buou stores and counters in the next three years.

According to its financial figures for the year to December 31, Bangbao recorded a turnover of 269 million yuan and a net profit of approximately 68 million.

The new acquisition will synergise with Bosideng’s existing ladies’ wear brand Jessie as Jessie’s distribution network mainly covers Southern China while Buou Buou has stronger presence in the northern area.

“The strategic investment will be conducive to Jessie’s future network expansion. It will also diversify the company’s product offerings to meet different customers’ tastes and needs,” said Talent Shine GM Zhou Meihe.