This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

KKR Announces Investment To Support Growth Of China Apparel Retailer Novo

Kohlberg Kravis Roberts & Co. L.P. (together with its affiliates, "KKR") today announced that KKR China Growth Fund L.P., a China-focused investment fund managed by KKR, had invested in Novo Holdco Limited (“Novo”), a fast-growing fashion apparel retailer focused on the urban youth demographic in China. Since KKR’s investment, Novo has significantly expanded their nationwide store network and pursued licensing agreements with attractive international fashion brands to help fuel their growth in China.

“Novo was one of the first and remains one of the largest established specialized department store chains targeting the underserved urban youth fashion market in China. We are very impressed with KKR’s global franchise and the China team’s strong track record. There is a history of growth when retail companies partner with KKR and we are confident that this partnership will enable us to leverage their retail industry expertise and local knowledge to further grow our business as an industry leader in China,” said Alan Fang, Chairman and CEO of Novo.

“We plan to grow aggressively in the coming few years both in our anchor stores and brands development. We look forward to partnering with the KKR team on our growth story,” Chairman Fang added.

“We see enormous long-term growth potential in the Chinese fashion retail industry driven by rising domestic consumption and an increasing demand for the latest fashion trends. The Chinese youth apparel retail market is a $38 billion industry and has been growing at 16% per annum since 2005. Novo has developed a unique business model with extensive local network and supplier relationships which enable it to fully capitalize on the rising demand in the Chinese youth fashion market over the long term,” said David Liu, Member of KKR and CEO of KKR Greater China.

“Novo has a strong management team with extensive retail expertise and a strong track record of developing retail networks and anticipating the latest fashion trends in China. We look forward to supporting Novo in their growth plans and are committed to fully utilizing KKR's global resources and retail expertise in creating a win-win long-term partnership,” commented Julian Wolhardt, Member of KKR.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,084.49 +33.74 0.20%
S&P 500 2,014.89 +15.91 0.80%
NASDAQ 4,830.47 +19.6820 0.41%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs