Japan’s Stripe International to Acquire Vietnamese Fashion Firm

Tuan Minh

16:23 10/11/2017

BizLIVE - The two sides are still negotiating the deal.

Japan’s Stripe International to Acquire Vietnamese Fashion Firm

A NEM fashion outlet. Photo: Internet

Japan-based fashion apparel retailer Stripe International Inc. has unveiled a plan to acquire Vietnam’s privately-run ladies casual apparel company NEM Group.
Negotiations are underway, NEM Group’s CEO Truong Viet Binh told VnExpress.
In October, Stripe International set up Hanoi-based subsidiary Stripe Vietnam Joint Stock Company, as part of the plant to take over the apparel business assets of NEM Group.
Stripe Vietnam has a registered capital of 175 billion dong ($7.7 million). The value of the deal was not disclosed.
Established in 2002, NEM Group now operates 44 retail outlets, with nearly a half of them in Hanoi and Ho Chi Minh City. It focuses on fashion for office women aged between 20 and 40 years old.
The company aims to book revenue of $26 million this year. It posts a CARG of 20%, according to Stripe International.

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