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SCMP Reporter

Egana International aims to build up its newly acquired Goldpfeil brand name before seeking a separate listing for the German leather maker.

 The firm plans to expand the range of products sold under the Goldpfeil name, building it into a 'lifestyle' brand of everyday consumer goods.

 Its strategy follows the successful spin-off of Egana Jewellery & Pearl, which has seen business surge since it listed separately in July.

 Egana, a watch and jewellery maker and distributor, said in October it would spend 55 million deutschemarks (about HK$255.38 million) to acquire Goldpfeil.

 Chairman and chief executive Hans-Joerg Seeberger said it had subcontracted a Japanese company to manufacture upmarket titanium and platinum optical frames under the Goldpfeil name. The Japanese firm also produces Citizen brand watches.

 Egana had also entered into an agreement with Lamex International to manufacture furniture under the Goldpfeil name.

 Mr Seeberger said the group was in the process of selecting ready-to-wear manufacturers in Italy, and leather tanneries in the mainland and Japan to manufacture other consumer products under the Goldpfeil name.

 The ultimate goal was to list Goldpfeil shares, establishing it in the eyes of suppliers and customers as a separate entity with its own fund-raising capabilities.

 Director David Wong Wai-kwong said the spin-off was a medium-term target, but the group had yet to decide where to list the shares.

 He said the recent acquisition of US jewellery designer duNouveau Designs would expand Egana's brand portfolio to 33 names.



Egana set to build up new brand prior to separate listing