Emperor Watch & Jewellery (HKG:0887) unit Emperor Jewellery (China) agreed to form one or multiple JV companies with Zhangjiajie Free Trade Zone Xiaoduocai Investment Management, a Thursday filing with the Hong Kong bourse said.
The JV firms will engage mainly in the design, production, and sales of precious metals and jewellery products under the "Emperor Jewellery" brand in Mainland China.
Following formation, the watch and jewelry retailer's jewelry business operations in Mainland China will be taken up by the JV companies.
The two parties will hold a 51% and 49% equity stake in the JV firms, respectively, which will be formed with a total cash capital commitment of up to 346 million yuan. Of this, Emperor Jewellery (China) will contribute no more than 168 million yuan.
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