HONG KONG, Oct. 28, 2024 (GLOBE NEWSWIRE) -- Neo-Concept International Group Holdings Limited (Nasdaq: NCI) is thrilled to announce the successful establishment of its joint venture, Lineowa Fashion and Lifestyle LLC, with Liwa Trading Enterprises LLC. This exciting collaboration marks a significant step in NCI’s strategy to enhance its footprint in the UAE and the Gulf Cooperation Council (GCC) retail markets.

We are targeting to launch our e-commerce platform by the end of this year, initially featuring our own branded products, Les100Ciels. This e-shop will serve customers across the entire GCC region, providing a seamless online shopping experience for our unique apparel collection. Additionally, we are diligently working to secure a prime location for our first physical store in the UAE, with the goal of opening in the first quarter of 2025. Following the launch of the e-shop and our first physical store, we plan to expand with additional locations throughout the UAE and, in due course, explore opportunities in other GCC markets.

“Our partnership with Liwa empowers us to bring Les100Ciels to a wider audience,” stated Ms. Eva Siu, Chairlady of the Board of Directors and Chief Executive Officer of NCI. “We’re excited to offer our customers an exceptional shopping experience both online and in-store.”

Mr. Patrick Lau, Chief Financial Officer of NCI, emphasized the strategic advantages of the collaboration: “With Liwa’s extensive market expertise and established presence, we are confident that this joint venture will create value for the company moving forward.”

This joint venture will focus on retail, wholesale, distribution, and e-commerce operations across the UAE and GCC, combining NCI’s design and supply chain strengths with Liwa’s robust distribution network.

Stay tuned for further updates as we approach the launch of our e-shop and unveil our first physical location.

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FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release are “forward-looking statements” made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Such forward-looking statements reflect the Company’s current expectations or beliefs concerning future events and actual events may differ materially from current expectations. Any such forward-looking statements are subject to various risks and uncertainties, including the strength of the economy, changes to the market for securities, political or financial instability and other factors which are set forth in the Company’s Registration Statement on Form F-1 (File No. 333-275242), as amended, and in all filings with the SEC made by the Company subsequent to the filing thereof. The Company does not undertake to publicly update or revise its forward-looking statements, whether as a result of new information, future events or otherwise.