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Flash Note – Bonia (BUY, maintain) - A new JV with another renowned Italy brand




Affin Hwang Investment Bank Bhd


10 Jun 2013





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Adding Bruno Magli into its brand portfolio In a filling to Bursa yesterday, Bonia announced that its wholly-owned subsidiary Active World Pte Ltd (AW), who is involved in the retail sale of bags, luggage and travel accessories, had entered into a Joint Venture Agreement (JV) with Bruno Magli South East Asia Pte Ltd (BMSEA) for the purpose of carrying out wholesale, retail and marketing activities of Bruno Magli (BM) products, under the trade name “Bruno Magli” in Singapore, Malaysia, Indonesia, the Philippines, Vietnam and Thailand. BM is a well-known Italy brand who is involved in the design, production, distribution and sale of footware, leather goods, bags and other ready-to-wear leather products. Bonia’s AW will have a 70%-stake in the JV while the remaining 30% will be owned by BMSEA.

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