Beijing Business Today is reporting that China Dongxiang Group, the parent company of Kappa, has invested 20 million Yuan in Huayi Sports. Their share ownership in Huayi Sports has also increased by 1.82%. By investing in Huayi Sports, China Dongxiang Group will be able to get into a wider area of sports business, including sports events and training, so that they can gain new revenue streams and business opportunities.
The China Dongxiang (Group) Co., Ltd. is a leading international sportswear brand enterprise based in China. The Group is primarily engaged in the design, development, marketing and wholesaling of branded sportswear in China. Since 30th May 2006, China Dongxiang has owned all rights to the internationally recognised Kappa Brand in the PRC and Macau.
Huayi Sports is a company established on 9th September, 2016, specializing in investing and operating sports events, sports business development and sports training projects. By 31st December, 2016, their net worth had reached 49.44 billion Yuan.
Proofread by Sean O Diobhilin