Gunze Ltd is entering into a joint project with one of the major Chinese lingerie manufacturers in order to sell underwear in China. This project is a positive step towards long-term spreading out into the Chinese market.
The joint is likely to come up in February, 2011. The undertaking will sell the core products of Gunze as well as underwear of its proprietary brands in 350 shops by March 2015, with the yearly sales estimated at three billion yen.
Gunze Ltd is going to own 51% of the shares of the new company and the remaining 49% shares will be held by Beijing Aimer Lingerie Co.