Shangtex Holding Co., Ltd, a Chinese textile and fashion conglomerate has partnered with Danish fashion company Metropol by acquiring a50% stake of Metropol.Shangtex isa leading player in fashion industry in China, and owns itsown brands, designing, manufacturing and retailing. Metropol is an ambitious Scandinavian fashion and interior companyconsisting of five major brands, with 1,500 shops across the world.
The partnership willfocus on the exchange of design skills, amongst others.Metropol will assist Shangtexwith theintroduction of collections on the European and American market, with emphasis on design. Shangtexwill assist Metropol’s successful retail concept ‘NORR’ to access the Chinese market.
Shangtex is moving aggressively on their strategy of internationalization, acquiring Metropol helps build its first presence in Europe.Metropolis happy tobenefit fromShangtex’s extensive know-how and vast experience on the Chinese market, numerous production facilities and sourcing experience.Furthermore Shangtex’s various products will enrich Metropol’s product lines.
Both parties have high expectations to this collaboration. The president of Shangtex Zhu Yong (George Zhu) says the deal will result in great synergy in both companies.TheCEO of MetropolTommy Hyldahl says: Metropol looks forward to the future cooperation, especially because of the many synergies made available through the collaborative partnership. We consider our new partner as a very strong and professional partner for our entire supply chain, particularly in regards to production, retail and marketing.
Danish design is famous around the world for its simple Scandinavian style and high quality. It’s the birth nation of many top designers. Nick Hækkerup, Danish Minister for Trade and European Affairs welcomes Shangtex to Denmark:
“Denmark has a leading creative sector which today represents more than 10% of the total Danish export of goods. With China expected to become the largest fashion market in the world in the coming years, the collaboration between the Chinese textile conglomerate, Shangtex, and the Danish fashion company, Metropol, is a very good example of the potential of Sino-Danish cooperation,” says Minister Nick Hækkerup and continues:
“I am pleased that Invest in Denmark has been able to assist Shangtex throughout the process and I am convinced that both companies will benefit from this joint venture.”