Japanese clothing chain Adastria, subsidiary Gate Win to merge

The merger will be effective as of March 1 this year, the company said in a disclosure.

Gate Win engages in the licensing business, leveraging the Adastria Group’s e-commerce operations, value chain and presence in Japan.

“This merger will utilise management resources more effectively, improve operational efficiency and expand new business by integrating tasks ranging from license negotiations to store operations,” the company claimed.

As the merger is with a wholly-owned subsidiary of the company, it will not issue new shares or make any payment of merger consideration.

ALCHEMPro News Desk (DS)