Incredible (RDR) Annual Reports

Listed on SGX-Sesdaq on 30 July 2001, Vashion Group Ltd, previously known as

Startech Electronics Ltd was previously engaged in the business of the

provision of electronics manufacturing services and the distribution business

and switchgear design & assembly business. This was later changed to the

distribution of equipment and consumable materials for the electronics industry

and switchgear design & assembly services in 2004.

With the successful acquisition of Red Flag Holdings Co Ltd in Hong Kong, the

Group has added fashion brand management business, focusing on the management,

distribution and retailing of mid-to-high-end men’s apparel in China under the

brand name of “Louis Gianni” to its portfolio. Vashion focuses on its core

competencies of brand management by working closely with reliable vendors for

the manufacturing of its products and by employing an efficient retail

structure, which includes an attractive licensing program.

The Group currently operates 78 stores located in major cities including

Beijing, Tianjin, Nanjing and Jinan, throughout China, as well as in provinces

such as Fujian, Jiangsu and Shandong. Among the 78 stores, two-thirds of these

stores are self-managed stores located at major shopping malls and hotels. The

remaining stores are licensed third-party stores who sell its products and

operate the stores under its brand name, and sales agency stores which are

appointed to retail “Louis Gianni” products on a consignment basis.