Rumours fly that Giordano is going to be bought out.
Can it be true? Giordano is under the acquisition microscope of 3 bigger and international apparel companies? It sounds like it is as Japan’s Uniqlo, Spain’s Zara and Hong Kong’s own Esprit are all ready to take Giordano’s impressive 1,793 shops across Asia (read: China). From the SCMP:
The three retailers have only limited presence across the region and see some form of link-up with Giordano – which has 1,793 shops across Asia – as a way of rapidly boosting their exposure, especially on the mainland.
Giordano issued an announcement to the stock exchange stating that it had “no negotiations or agreements relating to intended acquisitions or realisations which are discloseable” under listing rules, after its shares rose 2.5 per cent yesterday to close at HK$3.69 on the heels of a 7.14 per cent surge on Thursday.
Nothing is confirmed and even if one of those companies did takeover Giordano, it probably wouldn’t effect anything on a consumer level – but it would push Bossini down and level off the playing field for the casualwear market in Asia.