AMTD International acquires global fashion media group L’Officiel Inc SAS
NEW YORK & HONG KONG & SINGAPORE–(BUSINESS WIRE)–AMTD International Inc. (“AMDD International”, NYSE: HKIB; SGX: HKB), a dual-listed NYSE and SGX-ST company and subsidiary of the AMTD Group, is a major Asian-focused financial services conglomerate, headquartered in Hong Kong. Today, it announced the signing of a definitive agreement to acquire 100% of the stake in L’Officiel Inc., (“The Official), a global fashion media holding company.
L’Officiel is the operating holding company of iconic French magazine L’Officiel, which recently celebrated its 100th anniversary, and L’Officiel’s global network of fashion and luxury media brands. It affects 80 countries and nearly 100 million people worldwide. Recently, L’Officiel launched a pioneering initiative based on the metaverse – to mark its centenary.
“By integrating L’Officiel with AMDD’s SpiderNet, L’Officiel demonstrates AMTD’s ability to enable connectivity and positions us as a key player in the global fashion and luxury media industry,” said Dr. Calvin Choi, Chairman of AMTD Group and Founder of AMTD International. . “AMTD Group is committed to investing in and cementing points of connectivity between people’s interests, lifestyles and ESG initiatives, acting as a super-connector. The acquisition is the perfect stepping stone for L’Officiel to spearhead the adoption of new Web 3.0 practices and technologies coupled with the comprehensive financial services tools and infrastructure AMTD is implementing across Asia.
Dr. Feridun Hamdullahpur, Chairman of the Board of AMTD International, said: “I am delighted with this exciting new acquisition from L’Officiel joining the AMTD family. In our increasingly complex and interconnected world, many strategic synergies are formed, enabling a much greater impact and value proposition. Today’s announcement clearly illustrates and amplifies AMDD’s global vision in connecting its strong investment footprint and the world of fashion with digital connectivity. Today marks a very important day for the AMTD family, as we can look to the future with more confidence and business determination.
William Fung, CEO of AMDD International, added: “AMTD International prides itself on innovating and providing cutting-edge products and services to its customers. The successful acquisition of L’Officiel demonstrates our ambition and commitment to continue to diversify our activities and capabilities, and to be fully aligned with the overall IDEA strategy and AMTD Group’s expansion roadmap. I warmly welcome Benjamin Eymère and the L’Officiel team to the AMTD family. I’m extremely excited to embark on our journey through the Metaverse with Benjamin’s support and expertise. Opportunities and imagination are limitless and without borders.
Under the new management structure, Benjamin Eymère will continue to serve as CEO of L’Officiel. Additionally, he was appointed Chief Metaverse Officer of AMDD International. In this newly created role, Eymère is responsible for driving AMDD’s innovation in the Metaverse space. “Our goal is to showcase AMTD International’s leadership in the metaversal areas of entertainment and culture, and metaversal investment banking,” said Eymère. “I am very excited about our admission to the AMTD family, and AMTD International’s expanded plan is to deploy a new world of decentralized services and entertainment content, leveraging AMTD’s sophisticated digital transformation capability.
As part of this strategic vision, AMTD is delighted to announce the opening of the AMTD x L’Officiel land in The Sandbox, a leading decentralized gaming virtual world and subsidiary of Animoca Brands. The virtual space will showcase a project that draws on L’Officiel’s database of over 100,000 exclusive images from its 100-year history of fashion and culture. Titled “Fashion Skin,” the project will feature a collection of metaverse-ready virtual clothing. The pieces will be developed by applying artificial intelligence to L’Officiel’s fashion image database.
The acquisition of L’Officiel and the launch of a one-of-a-kind initiative in The Sandbox signifies AMTD Group’s IDEA strategy which encompasses a variety of creative and innovative projects around the world in media and entertainment, knowledge and education, and crypto investment banking. In addition, the expanded AMTD International group plans to establish/expand L’Officiel’s presence in Hong Kong, Macao, the Czech Republic, Hungary, Switzerland and the Netherlands in the coming months.
Global Emerging Markets North America Inc. (“GEM”) and Financière Jalou are pleased to celebrate the 100th anniversary of L’Officiel and both parties are committed to ensuring the continued success of the global media network by benefiting from full collaboration. with AMDD International. Christopher Brown, founder of GEM, and Marie-José Jalou, president of Financière Jalou, will continue to act as co-chairs of the board of directors of L’Officiel Inc., with Dr. Calvin Choi as the new senior chairman of the board.
About AMDD International Inc.
AMTD International Inc. (NYSE: HKIB; SGX: HKB) is a group of leading financial institutions headquartered in Hong Kong. Its comprehensive strategy of one-stop financial services solutions meets the diverse and interconnected financial needs of different customers at all stages of their life cycle. Leveraging its deep roots in Asia and its unique ecosystem – the “AMTD SpiderNet” – the company is uniquely positioned as an active super-connector between customers, business partners, beneficiary companies and investors, linking the East and West. For more information, please visit www.amtdinc.com or follow us on Twitter at “@AMTDGroup”. For company announcements, please visit http://ir.amtdinc.com/News.
About L’Officiel Inc.
L’Officiel (www.lofficiel.com) is a global fashion media company born in Paris in 1921. As a leader in fashion, beauty and luxury, the company publishes 33 editions distributed in 80 countries . Across all platforms, its network engages nearly 100 million fashion enthusiasts worldwide.
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