Abchurch has been appointed by Fraspens Outdoor Group, one of the top ten outdoor wear brand operators in China, to advise the Group on its AIM listing on the London Stock Exchange as well as its ongoing financial PR programme. Fraspens is seeking to raise £4 million and will have a market capitalisation of £40 million when it joins AIM in August 2014.
According to a Euromonitor Report in 2014, Fraspens is the 3rd largest local outdoor clothing brand in China by revenue. Including international brands which operate in China, such as The North Face, Columbia and Jack Wolfskin, Euromonitor reported that Fraspens ranked as the 7th largest outdoor wear brand by revenue. The Group designs and wholesales Fraspens branded outdoor wear, footwear and related accessories in China. The Group’s products include high quality, functional outdoor clothing, footwear and related accessories for outdoor activities such as hiking, fishing, and camping.
As a wholesaler, the Group leverages on the distribution network of their distributors and sub-distributors in China to sell Fraspens branded products to end consumers in China through Fraspens branded sales outlets. As of 30 April 2014, the Group wholesales its Fraspens branded products to 16 independent regional distributors in China, who then retail such Fraspens branded products to end consumers in China through 580 Fraspens branded sales outlets across 14 provinces and 3 municipalities in the PRC.
The Company announced its Intention to float on the AIM market of the London Stock Exchange on 21 July 2014, and dealings are expected to commence in August 2014.
Julian Bosdet, Senior Partner of Abchurch, commented: “Abchurch is delighted to have been appointed by Fraspens Outdoor Group. The increasing disposable income of urban population and rising demand for life quality in China has created great market potential for outdoor clothing. With an estimated market share of 6.8 per cent, Fraspens is well-positioned to capitalise on such opportunities brought by economic growth in China. The Company’s decision to float on AIM has created an attractive opportunity for London investors to gain access to the high growth consumer goods market in China.
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