Hung Hing Printing Group Limited (HKSE: 450), one of the largest print and packaging companies in Asia, announced today that the company has entered into a strategic partnership agreement with global retailer of luxury products of Swedish design, kikki.K, to acquire a 10% stake in the latter.
The global award-winning high-end lifestyle retailer, kikki.K, operates an extensive omni-channel sales network with over 100 boutiques across 5 countries including Hong Kong, 280 wholesale outlets in 11 countries and an e-commerce platform servicing 143 countries. kikki.K offers a broad range of stylish, fashionable and innovative stationery and gift products, including a newly launched personalised stationery and accessory service.
Matthew C.M. Yum, Executive Chairman of Hung Hing Printing Group Limited, said, "The strategic investment in kikki.K is a significant step to expand our product portfolio to capture high-end consumer product opportunities. We can leverage the strong reputation and global market presence of kikki.K to expand into the individualised product segment. The partnership is a perfect fit into our core production capability, enabling us to broaden our offerings to cover all significant segments of the value chain and yield manufacturing synergies. In turn, kikki.K will have access to capital and expanded infrastructure to help accelerate its global expansion plan, in particular growth into the robust China market. It's win-win for both companies."
kikki.K CEO, Iain Nairn, is at the forefront of kikki.K's growth strategy. Under Nairn's leadership, the brand has continued to excel internationally, driven by both its retail stores, e-commerce store and most recently, its accelerated wholesale growth.
kikki.K Chairman, Sam McKay commented, "kikki.K's global expansion continues to progress well, and we are excited that Hung Hing is aligned with our vision for the future. We are focused on executing the many meaningful opportunities ahead."
Since opening award-winning retail stores in London's Covent Garden in December 2015, kikki.K has increased its UK footprint to 37 doors over the past three years by entering Selfridges, John Lewis and Harrods with great success. Beyond the UK, kikki.K has also launched in over 80 Nordstrom stores in the US, over 80 Indigo stores in Canada, as well as a string of other leading department stores across Asia and the UAE. The brand has plans to have its products stocked in over 3000 wholesale doors around the world in the coming years.
kikki.K was founded in 2001 by Swedish-born Kristina Karlsson and co-founder Paul Lacy, inspired by Kristina's dream to start a meaningful business and share Swedish design with the world. Over fifteen years on, kikki.K is strongly driven by Kristina's original purpose to inspire and empower people the world over to live their best life, every day through a unique offering of Swedish design, stationery and gifts. This September, Kristina will release her debut book, 'Your Dream Life Starts Here', which she wrote as the first step and go-to guide to help inspire people around the world to write down three dreams and make their dreams reality.
"We are so really pleased to have Hung Hing on board as we work towards our global vision. I absolutely love what I do, and as we continue to inspire millions of people to dream, do, enjoy and share -- and help to make the world a better place by doing so -- the backing of Hung Hing will be a great help," said kikki.K Founder & Creative Director, Kristina Karlsson.
Today, kikki.K has over 100 retail stores throughout Australia, New Zealand, Singapore, Hong Kong and the UK in addition to its online store and wholesale doors. Whilst the brand is now over 15 years old, with an ambitious global vision to see something kikki.K in every stylish life, the world over, the team says it feels like they're just getting started.
