On Feb 23, 2011, Fung Capital Asia invested in Tectron Limited, a Chinese B2C
on-line ladies’ fashion retailer under the namesake brand of "Moonbasa". The
capital will be used to fund expansion of the business, particularly in the Chinese
mainland market and expansion of product categories.
"The e-commerce market in China is large, sustainable and growing rapidly.
Moonbasa is well-positioned in the trendy mass-market ladies’ fashion segment
with excellent execution capability. Although the brand was developed only about 5
years ago, it has already demonstrated its ability to rapidly attract and retain
customers. Today, Moonbasa is ranked amongst the top leading e-commerce
retailers in China. The management of Company is also continually improving its
internal capabilities as well as product design, quality, and sales services. We are
delighted to be a partner of Moonbasa." says Mr. Jose Cheng, Managing Director of
Fung Capital Asia,
Mr. Cheng added that “Fung Capital is already working with Moonbasa on a
number of strategic operational partnerships between Moonbasa and Fung
Capital’s sister company Li & Fung Limited in terms of supply chain management
and product design and sourcing. We hope to be able to create additional value as a
shareholder in the long run."
Moonbasa is a leading female fashion and accessory branded e-Commerce retailer
in China. Founded in 2006, Moonbasa has been growing rapidly over the years as a
result of growing demand for its casual mid-priced fashion catering to early
twenties to mid thirties women in China.
About the Fung Capital Group
Fung Capital Group is the private investment arm of the families of Dr. Victor Fung
and Dr. William Fung, the controlling shareholders of the Li & Fung Group of
companies which included HK-listed companies Li & Fung Limited (HK:494),
Trinity Limited (HK:891) and Convenience Retail Asia Limited (HK:8052). Fung
Capital makes investments in supply-chain related technologies as well as in
consumer product companies primarily in the apparel, fashion accessories, home
furnishings, gifts, health and beauty industries, where its investments are
unrelated to any of the listed companies of the Li & Fung Group.