NCI Announces Joint Venture Agreement with Liwa Trading Enterprises LLC to Expand Apparel Footprint Across MENA Region
Neo-Concept International Group Holdings Limited - Ordinary Shares (NCI)
Last neo-concept international group holdings limited - ordinary shares earnings: 8/2 08:15 am
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Source: GlobeNewswire
HONG KONG, July 10, 2024 (GLOBE NEWSWIRE) -- Neo-Concept International Group Holdings Limited (Nasdaq: NCI) (the "Company") today announced the formalization of a Joint Venture Agreement ("JVA") with Liwa Trading Enterprises LLC ("Liwa"), a leading retail group headquartered in the United Arab Emirates ("UAE"). This joint venture aims to distribute and sell apparel products across the UAE and the Middle East and North African ("MENA") regions. Effective July 8, 2024, the JVA solidifies the terms and conditions outlined in the Memorandum of Understanding ("MOU") dated May 21, 2024, previously announced. The agreement further delineates the operational and financial frameworks necessary for the establishment of the joint venture company ("JV"). Under the JVA, NCI and Liwa will leverage their combined strengths to enhance the market presence of apparel products and services in the MENA region, including countries such as UAE, Saudi Arabia, Kuwait, Bahrain, Qatar, Oman, and other
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