MODERN AVENUE(SZ:002656)2022-12-06 09:06Group 1: Acquisition and Brand Management - The company acquired 51% equity of the Italian brand DB, gaining operational rights in Greater China [2] - The operational decisions for DB are made by LEVITAS's board and shareholders, with the company holding significant influence as the majority shareholder [2] - LEVITAS is responsible for the design, authorization, and promotion of the DB brand [2] Group 2: Distribution and Production - LEVITAS determines first-level distributors based on product categories [3] - DB brand production is primarily based in Italy and will transition to a global procurement model in two years [3] - The company plans to open 20 flagship stores in core cities, with additional stores operated through franchising and online channels [3] Group 3: Market Performance and Expansion Plans - DB brand has strong bargaining power in domestic malls, often receiving renovation subsidies and favorable commission rates [3] - The company plans to open no more than 10 new DB stores this year, focusing on gradual expansion [3] - DB brand has gained popularity internationally, with notable presence in Milan and positive reception during Milan Fashion Week [3] Group 4: Future Strategies - The company will not consider acquiring additional brands in the short term, focusing instead on partnerships with retailers [3] - The "Modern Avenue" platform is currently in beta testing, with plans for a series of promotional activities to launch officially [4] - The platform will operate as an open system, welcoming quality franchisees while maintaining self-operated segments [4]