Zoyi Capital has invested in Pink Mary. Financial terms weren’t announced. Shanghai-based Pink Mary makes and distributes high-end women’s apparel, featuring hand-knitted patterns in a Baroque style, in China.
Taiwan, 19 March 2014 – Zoyi Capital announced today its investment in Pink Mary, a leading manufacturer and distributor of high-end lady apparel in China.
Pink Mary, headquartered in Shanghai, dominates a very niche market segment with its products sold in around 400 stores throughout China. The company benefits from long term relationships with its distributor and a loyal customer base, who are attracted by the hand craftsmanship and the brand’s Baroque design.
“Zoyi Capital has identified strong momentum in the high-end segment of the lady apparel market in China and we believe Pink Mary is uniquely positioned in terms of design and style, to capture this growth” commented Andrew Kuo, Founding Partner and CEO of Zoyi Capital.
Zoyi Capital first began developing a relationship with the Founder, Ms. Su-Ping Chang and Chairman, Chi-Ming Huang of Pink Mary in 2009. Zoyi Capital will take a controlling stake in the company, but the founders will retain a significant stake, ensuring the continued partnership and alignment of interest between the two parties.
“We have a close relationship with the Zoyi Capital team and are very excited to be partnering with them. Already they have recruited a highly capable management team with a stellar track record to assume the key management positions of CEO, COO and Head of Sales, with the new management team in place since January” said Ms. Chang, Founder of Pink Mary.
About Pink Mary
Established in 2003 and headquartered in Shanghai, Pink Mary has manufactured and distributed high-end lady apparel with elaborate hand-knitted patterns and Baroque style, which has been welcomed with great popularity among 30-50 year-old Chinese women. As the segment leader for more than a decade, Pink Mary has built a loyal customer and distributor base from its unique market position, with minimal competition and limited impact from a potential slowdown in the macroeconomic environment. The company sells its products through over 60 long-term distributors in around 400 stores in China, about 70% of which are located in mid- to high growth cities, making them well positioned to capture the next wave of growth.
About Zoyi Capital
Zoyi Capital is a Greater China focused fund, investing in segment-leading mid-cap companies with a proven history in the China and Taiwan markets. Zoyi Capital targets proprietarily sourced investments with a preference for buyout or significant minority positions and an emphasis on providing value-add support. The Zoyi Capital team has a long and successful track record in Greater China and is highly respected in the local business community. The Founding Partners of Zoyi Capital are Andrew Kuo, previously Vice Chairman of Blackstone Greater China, Pei-Pei Yu, previously Managing Director of Goldman Sachs PIA Asia and Eric Chen, previously President of North Asia and Greater China at Fullerton Financial, a subsidiary of Temasek.