Yoho Group Holdings Limited (“Yoho”; Stock Code: 2347.HK) and Jebsen Group are pleased to enter into an assets purchase agreement (“Assets Purchase Agreement”) in relation to the acquisition of J SELECT (“the Brand”), a premier retail business of Jebsen Consumer which is a wholly-owned subsidiary of Jebsen Group, today. This acquisition marks a significant advance in the strategic growth initiatives of both companies, facilitating more effective resource allocation to capitalise on the significant opportunities for growth and development ahead and drive long-term success for shareholders, customers and employees.
Founded in 2013, J SELECT was established as a well-recognized global premium lifestyle brand retailer. Boasting a robust customer base of over 600,000 high-spending individuals, the Brand remains at the forefront of emerging trends within the consumer industry by leveraging its ability to forge strong partnerships and collaborations with globally renowned brands. Throughout its history, J SELECT has garnered numerous awards from the Hong Kong Retail Management Association (HKRMA) for its excellent customer service and E-Shop experience.
Following the acquisition, J SELECT will serve as a strategic extension of Yoho’s existing OMO ecosystem. The premium market position of the Brand complements Yoho’s mass market strategy with its competitively priced offerings while providing a direct avenue to engage with upscale consumer segments. Meanwhile, J SELECT’s extensive membership base provides Yoho with a new source of customers and a richer dataset for extracting insights on customer preferences, buying behaviors, and trends. This enhancement in data capabilities is expected to improve up-selling and cross-selling opportunities, fostering the development of both Yoho and the Brand.
Mr. Ting Chiu, Managing Director of Jebsen Consumer, said, “This acquisition represents an important milestone for J SELECT. YOHO brings a platform, expertise, resources, and market influence that will enhance the O2O retail experience that J SELECT offers. By joining forces with YOHO, we are confident that with YOHO’s expertise, J SELECT will be presented with more opportunities for growth and development and able to reach new heights.”