Readen Holding Corp. has officially begun its transformation process under new management. The company has signed letters of intent to purchase 2% WIP GROUP (Hong Kong), 2% WIP GROUP (China) and 2% WIP GROUP (Taiwan). The transaction will be facilitated by the issuing of new restricted stock under rule 144.
The 2% WIP GROUP is a highly popular and well-established international fashion company whose fashion brands are some of the hottest brands in China and Europe. WIP HOMME, Boy London, ODF Clothing, 2 Percent and others are all well-known and highly respected fashion brands in Asia. Additionally, Readen Holding has obtained licensing rights in parts of Asia for the globally recognized MIFFY and of the popular brand Boy London. MIFFY currently has a retail earnings power of approximately $300 million annually and Readen is excited to have secured the licensing rights to MIFFY in various parts of the Asian market.
We anticipate launching our new low-cost fashion platform under the newly acquired brand name within the next 30 days. Due diligence is currently in the final stages and the official closing of this transaction is anticipated within the next 10 days.
Kok Wai LEE, CEO: “We are now poised at furthering our deployment into Asia and Europe with the acquisition of these well-known and established brand names, along with their agencies and licenses. 2% is much more than a brand name, it is familiar to an Asian Pacific generation born in the 1980ʼs and 90ʼs and is firmly embedded within their memories. In addition to the expansion, I am also happy to announce that I have been working closely with our accountants and lawyers to get the necessary documents filed to become OTC current within the next thirty days. Additionally, once current, we will be looking to uplist to the OTCBB Tier. I am very grateful for the opportunity to work with our new team; together we will build up a brand new platform propelling Readen Holding Corp. forward.”
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Readen Holding Corp.
Kok Wai LEE
+31 3562 99970