Taka parent TLV Holdings enters JV to retail jewellery in China
To sell its jewellery in China, TLV Holdings has agreed to form a JV with a Guangdong province consortium, Maoming Liutao Zhubao Chuangyi Chanye.
TLV has 17 retail outlets in Singapore under its Taka Jewellery brand, and also provides pawnbroking services as well as trading of pre-owned jewellery and watches under the Top Cash brand.
The proposed JV, Maoming Liutao Gaoda Zhubao, will have an initial registered capital of RMB20 million (S$4.1 million/US$2.9 million), with Taka HK Venture subscribing for a 49 per cent stake. Based on TLV’s 70 per cent holding in Taka HK Venture, its interest in the proposed JV will be 34.3 per cent.
Previously selling its jewellery to China on a wholesale basis, TVL will be able to enter the retail segment via the JV.