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(SOURCE:SinoCubate, Inc., 01-17-2012)
SHANGHAI, Jan. 17, 2012 /PRNewswire-Asia/ -- SinoCubate, Inc., SBAT ("SinoCubate" or the "Company"), today announced that the Company has been engaged by two new Chinese clients located in Beijing and Shanghai.
The Beijing client operates a 110-plus retail chain store selling women’s underwear. The plan is to assist the company with investments and consultant services to establish a nationwide luxury brand in China. In addition to adding up to 200 more stores in the next two years, the client plans to establish a comprehensive online presence. The market is fragmented with no major brand dominating the market. As comparison, a major highly profitable brand does exist in the US, which has about 1,000 stores in the US, Canada and the Caribbean. In consideration for SinoCubate’s services and investments which will be provided to the Beijing client, SinoCubate will own a major stake in that client.
The Shanghai client, a well-known restaurant-tea house company, operates close to 130 stores in Shanghai and Hunan province. The client plans to add 50 more stores per year during the next three years and to build a central kitchen serving 300 stores. In consideration for SinoCubate’s services and investments which will be provided to the Shanghai client, SinoCubate will own a substantial stake in that client.
Says Tom Simeo, Chairman of SinoCubate, "According to the latest data from the Chinese Ministry of Commerce, ’MOFCOM’, the goal for the next five years is a 15% annual growth for retail sales of consumer goods to reach a total of 3.2 trillion yuan ($507 billion) by the end of 2015."
Mr. Simeo continued, "Taking into account that China is estimated to surpass Japan as the largest consumer of luxury goods this year, and China’s growing middle class with increased disposable income, we will continue to focus on the consumer-related space. By some estimates, sales of global luxury brands in China have risen more than 30 percent over the past four years, and the consumption of luxury goods reached 100 billion yuan in 2011."
Safe Harbor Statement
This press release contains certain statements that may include forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are based upon management’s beliefs, assumptions and expectations of the Company’s future operations and financial performance, taking into account the information currently available to management. These statements are not statements of historical fact. Forward-looking statements involve risks and uncertainties, some of which are not currently known that may cause actual results, performance or financial condition to be materially different from the expectations of future results, performance or financial condition expressed or implied in any forward-looking statements. These forward-looking statements are based on current plans and expectations and are subject to a number of uncertainties including, but not limited to, the Company’s ability to manage expansion of its operations effectively, and other factors detailed in the Company’s annual report on Form 10-K and other filings with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. You are cautioned not to unduly rely on such forward-looking statements when evaluating the information presented herein.
SinoCubate, Inc.Ms. Jenny ZhongIR Contact: Tel: +86-21 5291 6257
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