The commence of business operation in France is a step forward to enter European markets, optimising the Group's portfolio and increasing its sources of revenue.
Hong Kong /PRNewswire/ - Tycoon Group Holdings Limited ("Tycoon Group" or the "Group", Stock Code: 3390.HK), an omnichannel brand marketing and management service integrator of health and well-being related products in Hong Kong, has announced that its subsidiary ("Tycoon") has entered into a Cooperation Agreement with Beijing Jingdong Qianshi Technology Co., Ltd., a member company of the group of JD Logistics, Inc. ("JD Logistics", Stock Code: 2618), and Fadong (Dongying) E-Commerce Co., Ltd. ("Fadong") on 1 September, 2022. Under the Cooperation Agreement, Tycoon Group is authorised to operate operation centre and storage centre located in France (collectively, the "Bases"), attracting and sourcing more European brands and products, as well as expanding the Group's distribution channels into European markets, thereby enhancing the Group's portfolio and sources of revenue.
Leveraging JD Logistics Supply Chain's advantages, Tycoon operates Bases in France
Under the Cooperation Agreement, the parties have agreed on the modes of cooperation based on the principle of "advantage complementation, collaboration with mutual benefits and joint development", whereby JD Logistics shall provide their technology-driven supply chain solutions and logistics services, such as cloud warehouse storage management system services, cloud warehouse commodity supply chain system services, consultation services and other value-added services relating to resource docking, to Tycoon and permit Tycoon to operate operation centre and storage centre located in France under the names of JD Logistics Supply Chain Industrial Base in Bordeaux and JD Logistics Supply Chain Industrial Base in Paris respectively and Fadong shall be the designated warehouse operator of Tycoon in the PRC.
Tycoon has established a joint venture company in France with a local business partner for the purpose of operating the Bases in accordance with the Cooperation Agreement. The joint venture company is expected to be an international supply-chain management company, principally engaging in providing one-stop services to customers in the PRC and Europe, including logistics, cloud warehouse and customs clearance.
The Cooperation facilitates Tycoon's entry into European markets, further strengthening the Group's international presence
Tycoon Group is a reputable omnichannel brand marketing and management service integrator of health and well-being related products, specialises in providing one-stop services for brands of Proprietary Chinese Medicines (PCM) and health supplement products, including brand agent, marketing, management, distribution, and sales. Products provided by Tycoon have been well-received by consumers.
Tycoon Group has established a strong online and offline sales network in Hong Kong, Macau, and the PRC by cultivating the industry for many years. It has provided over 100 local and foreign brands. Tycoon Group also acts as an agent and has sold for an array of brands of PCM, health supplement, skin care, personal care and other well-being related products through online and offline sale channels.
In order to build a diversified sales network and enrich product portfolio, Tycoon Group continues to strengthen its overseas presence. In addition to its presence in Australia, Japan, Malaysia, Singapore, Macau and Thailand, Tycoon Group also established sourcing centres in France and South Korea this year. As an integrated provider of omnichannel brand marketing and management services, Tycoon Group will continue to source various high-quality healthcare and beauty products for local and mainland Chinese consumers so as to diversify the product portfolio and fortify its international presence.
This cooperation leverages the professional edges of Tycoon Group's extensive experience in distributing health and well-being related products and its diverse distribution channels, and JD Logistics' sophisticated logistics supply chain industrial platform. Through the operation of the Bases and a streamlined logistics supply chain platform, Tycoon Group would be able to integrate valuable resources and establish its presence in France, forming a steppingstone for Tycoon Group to explore the market opportunities in Europe.
Mr. Wong Ka Chun Michael, the Chairman and the Chief Executive Officer of Tycoon Group, said, "We are glad to enter into a Cooperation Agreement with JD Logistics. Through this cooperation, Tycoon is able to expand its business in France and explore the opportunities in the European markets. After obtaining the operation rights of the French bases, I believe that we will be able to attract and source more European brands and products, expanding the Group's distribution channels into European markets, in turn optimising the Group's portfolio and increasing our sources of revenue."
About Tycoon Group Holdings Limited (Stock Code: 3390)
Tycoon Group is a reputable omnichannel brand marketing and management service integrator of health and well-being related products. The Group specialises in providing one-stop services for PCM, health supplements, skincare, personal care and other healthcare products, including omnichannel brand agent, marketing, management, distribution and sales. The Group has established a strong online and offline sales network in Hong Kong, Macau and the PRC by cultivating the industry for many years with the mission of bringing health and vitality to consumers in Mainland China, Hong Kong, Macau and Asia-Pacific. The Group has provided over 100 local and foreign brands. In addition, the Group has provided a number of anti-pandemic products in great demand in respond to the pandemic happened in Hong Kong, such as surgical masks, rapid antigen test kits, hand sanitisers and cleaning wipes, etc. With a vision of establishing its own brands of products, the Group develops Private Label Products under its well-received brands including "Boost & Guard", "Wakan", and "Kinmen", as well as the own-brand "SEASONS (田心日辰)" and "Slimming Expert" launched under the joint venture. Tycoon has established sound relationships with chain retailer customers, with the top two chain retailer customers operating over 470 stores in Hong Kong as at 31 December 2021. The Group is also one of the major distributors for PCM in Hong Kong. For more details, please visit the Group's official website: https://www.tycoongroup.com.hk/