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HONG KONG, Jan 25, 2022 - (ACN Newswire) - Regina Miracle International (Holdings) Limited ("Regina Miracle" or the "Group") (Stock code: 2199) today announced a partnership agreement with Victoria's Secret & Co. ("Victoria's Secret") (NYSE: VSCO) related to the latter's existing company-owned business in China.
Regina Miracle and Victoria's Secret have formed a joint venture ("JV") to operate all Victoria's Secret stores and the related online business in the People's Republic of China ("PRC"). Under the terms of the agreement, Regina Miracle will own 49% of the equity interest in the JV with a consideration of US$45 million in cash while Victoria's Secret will own the remaining 51% interest. The JV shall carry out the PRC business comprising designing, developing, manufacturing, marketing and sale of certain lingerie, intimate apparel as well as marketing and sale of personal care and beauty products under the agreed trademarks of Victoria's Secret in the PRC through its subsidiaries.
YY Hung, Chairman, CEO & Executive Director of Regina Miracle, said, "We are honored and excited to be elevating our long-standing partnership with Victoria's Secret through the formation of this joint venture in the promising China market. We are confident that our highly complementary strengths - Regina Miracle's industry-leading innovation capabilities and market foresights as an Innovative Design Manufacturer, and Victoria's Secret's undisputed brand leadership, retailing and marketing expertise - will perfectly position this partnership in capturing the growth opportunities and creating value for consumers in China."
Victoria's Secret CEO Martin Waters commented, "I am delighted to announce this partnership with Regina Miracle, who has been a valued merchandise supplier partner for more than twenty years. Together with Regina Miracle, we aim to grow the China business through joint investment in product development, distribution, and marketing. We expect the partnership will positively impact the speed and agility of the business to benefit consumers and provide us with a platform for a strong future in this important market. This JV with Regina Miracle in China completes a multi-year repositioning of the International business of the Company and we believe establishes a platform for accelerated sales and earnings growth in the market over the next several years."
About Regina Miracle International (Holdings) Limited Regina Miracle International (Holdings) Limited (stock code: 2199), a global leader in the intimate wear manufacturing industry with a unique innovative design manufacturer ("IDM") business model, is engaged in the innovation, design and manufacturing of a diverse range of products, including mainly intimate wear, sports bra and apparel, consumer electronics components, and footwear. Committed to product innovations through proprietary craftsmanship revolutions, patented product and production technological breakthroughs, the company has acquired a number of competitive industry edges that have spearheaded its developments over the years into being a global industry leader. Today, Regina Miracle has two strategic strongholds - its R&D and production base in China, and a major production base in Vietnam, with a combined workforce of more than 46,000.
About Victoria's Secret & Co. Victoria's Secret & Co. (NYSE: VSCO) is the world's largest intimates specialty retailer offering a wide assortment of modern, fashion-inspired collections including signature bras, panties, lingerie, casual sleepwear, athleisure and swim, as well as award-winning prestige fragrances and body care. With nearly 1,400 retail stores worldwide and a predominately female workforce of more than 25,000, Victoria's Secret boasts the largest team of specialty trained bra fit experts worldwide. Victoria's Secret is committed to inspiring women around the world with products and experiences that uplift and champion them and their journey while creating lifelong relationships and advocating for positive change.
Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comRegina Miracle International (Holdings) Limited ("Regina Miracle" or the "Group") (Stock code: 2199) today announced a partnership agreement with Victoria's Secret & Co. ("Victoria's Secret") (NYSE: VSCO) related to the latter's existing company-owned business in China.
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HONG KONG, Jan 24, 2022 - (ACN Newswire) - Global X ETFs, a leading global provider of exchange-traded funds (ETFs), today announced its market outlook for 2022. With peak liquidity reached, Global X ETFs expects the market to pay closer attention to fundamentals as markets are likely to be more selective in 2022. On the other hand, the convergence of several disruptive technologies such as robotics, artificial intelligence (AI), mobility, digital economy as well as blockchain, is creating unprecedented opportunities.
Updated guidance and sentiments from the US Federal Reserve on inflation expectations and the speed and trajectory of tapering and interest rate increases are likely to dominate sentiment in equity and fixed income markets. Inflation is likely to remain elevated until mid-2022 while supply chains normalize.
The Omicron variant adds a new wrinkle in the fight to control the virus, and may dominate market sentiment in the near term. The risk associated with Omicron may help dampen the demand-driven portion of inflation while exacerbating supply chain challenges.
Jon Maier, Chief Investment Officer, Global X ETFs said: "Income investors should be prepared for higher rates and inflation, a scenario that makes lower duration assets and real assets more attractive. Equity markets will likely be more selective in 2022 with a focus on valuations, fundamentals and quality."
Jay Jacobs, Head of Research & Strategy at Global X ETFs, commented: "Spurred by rising labor costs and disruptive supply chains, disruptive industries such as robotics and AI could reach an inflection point in 2022. At the same time, the emergence of the metaverse and a new generation of consumers with distinct preferences are rapidly changing the way we live, spend, travel and the demand for immersive experiences via the digital economy."
Global X ETFs' landmark research report Charting Disruption ( https://tinyurl.com/2p87w2mu ) seeks to help navigate this landscape of accelerating change. The ETF provider has identified what it believes are among the most critical developments for 2022 and beyond. The identified themes present where the accelerated long-term investment opportunities lie.
The following key insights emerged:
-- Robotics & AI: The industrial robotics industry is set to more than double from 2020 to 2030, from $16 billion to $37 billion, as companies look to accelerate automation in manufacturing and logistics.
-- Blockchain: Digital currencies* could more than triple in market capitalization by 2030, reaching $10 trillion, as adoption broadens.
-- Mobility: The number of EV charging stations could increase more than 7x due to the implementation of the Infrastructure Investment and Jobs Act, addressing two of consumers' top three hesitations about EVs: concerns about range and the hassle of charging.
-- Digital Economy: Today's relatively niche market for augmented reality, virtual reality and mixed reality products could grow 9.6x to over $296 billion by the end of 2024, helped by growing use cases, content and technological advancements.
About Mirae Asset Global Investments Group Mirae Asset Global Investments Group (the "group") is an asset management organization with over US$236 billion in assets under management as of December 2021. The organization provides a diverse range of investment products including mutual funds, exchange traded funds ("ETFs") and alternatives. Operating out of 14 offices worldwide, the group has a global team of more than 1,000 employees, including more than 200 investment professionals.
The group's global ETF platform features a line-up of 396 ETFs that offer investors high quality and cost-efficient exposure to newly emerging investment themes and disruptive technologies in the global markets. The group's ETFs have combined assets under management of US$85.8 billion and are listed in Brazil, Canada, Colombia, Hong Kong, India, Japan, Korea, United Kingdom and the United States.
About Global X ETFs Global X ETFs was founded in 2008. For more than a decade, our mission has been empowering investors with unexplored and intelligent solutions. Our product lineup features 90 ETF strategies and over $40 billion in assets under management. While we are distinguished for our Thematic Growth, Income and International Access ETFs, we also offer Core, Commodity, and Alpha funds to suit a wide range of investment objectives.
Global X is a member of Mirae Asset Financial Group, a global leader in financial services, with more than $620 billion in assets under management worldwide. Mirae Asset has an extensive global ETF platform ranging across the US, Brazil, Canada, Colombia, Europe, Hong Kong, India, Japan, Korea, and Vietnam with over $70bn in assets under management.
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Copyright 2022 ACN Newswire. All rights reserved. www.acnnewswire.comGlobal X ETFs, a leading global provider of exchange-traded funds (ETFs), today announced its market outlook for 2022.