Guo Guangchang, a listed company's Fosun star, revealed on CCTV's program that the group had made a deliberate decision to buy Italy.

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France

Moncler and AIA, each acquisition took a year or two, but at that time there was no paction due to various reasons.

For the merger of the three companies, he first publicly stated that this is an investment case that Fosun did not want to make. When the group started its fashion industry, it targeted the Moncler brand.

For the reasons for not buying, Guo Guangchang pointed out that at that time, the capital structure of Fosun was not so full. In the face of such a big takeover, its internationalization was not ready. In the end, the timing was not very good. Finally, all of these brands chose to go public directly. He stressed that it is normal for an investment enterprise to make and do Chengdu.

At present, both Prada and Moncler have landed in the capital market successively, but their performance has been mixed in recent years.

Prada has already entered the luxury industry. In the first half of this year, the group's turnover declined in the global region, with a total decline of 15% to 1 billion 500 million euros. Net profit plunged 25% to 141 million 900 thousand euros, and operating profit dropped by 27% to 213 million 700 thousand euros.

Thanks to strong growth in mainland China and Japan, Moncler's revenue rose 17% in the first half of this year and 346 million euros, while core profit EBITDA also recorded double-digit growth to 78 million 300 thousand euros.

For the group's investment logic, Guo Guangchang disclosed that it will revolve around two main lines. First, from a global perspective, it will combine the insurance and investment portfolio of Fosun, and create an investment group with comprehensive financial capability and industrial depth at the core of the insurance industry in the world. In addition, it will graft around the global resources around China's power and create a solution that can meet the needs of the world's family full of wealth, health and happiness.

Fosun is a diversified business, and it also runs across the fashion and retail industry. It is also the holder of Club Med, the most famous French Resort Group in the world. Up till now, Fosun's overseas fashion investment includes a minority stake in the Greek brand Folli Follie 9.5% in 2011. In 2013, Fosun became the second largest shareholder of the American women's clothing brand St. John, and gained the Caruso 35% interest of the men's clothing manufacturer in northern Italy through the capital increase and share expansion. The enterprise, in addition to its own brand men's clothing, also acted as a substitute for the senior men's clothing such as Dior, Lanvin and other luxury brands. In 2014, Fosun bought the shares of the German fast fashion group, the 84 million 580 thousand of the first half of this year, Fosun increased its investment proportion to 30%.

At the end of June 2014, Zhong Lei, assistant general manager of the Fosun Group and general manager of the international development department, revealed that Fosun had considered investing in Italy luxury brand Versace, but eventually gave up.