RC Holding Acquires Robert Clergerie

Paris, March, 2011 – RC Holdings, a company jointly owned by Fung Brands Limited and Jean‐ Marc Loubier, announces the acquisition from Mr. Robert Clergerie of FINANCIERE DE ROMANS, the Clergerie Group holding company. Mr Robert Clergerie will keep a 10% stake in the company to ensure the transmission to the new shareholders.

Clergerie Group owns its eponymous brand Robert Clergerie, which specializes in high‐end/luxury women’s shoes.    It also owns the Fenestrier and Espace brands. The group has 200 employees, manages a network of 20 direct operated shops and owns a workshop with a development center at Romans in France.

RC Holdings plans to develop the brand’s strength by drawing on its recognized know‐how, to expand the product range and increase the company’s international presence. The acquisition, without leverage, will strengthen the Group’s equity.

"Since its creation in 1981, the Robert Clergerie brand has always been managed with integrity and respect for its identity.    It has become a strong brand in the high‐end women’s shoes segment by drawing on the expertise of its workshops in Romans.    I am convinced that our industrial project, which is based on knowledge of the industry and of the international markets, will enable us to build up the Group as a benchmark in the luxury shoes and accessories industry" commented Jean‐Marc Loubier.

"I am delighted to transfer the group I have founded to recognized and experienced investors.   I am absolutely confident in Fung Brands Limited's and Jean‐Marc Loubier's ability to provide the expertise and the financial clout that are necessary to develop the Group. I am happy to contribute my support and knowledge to help them with their project", said Mr. Robert Clergerie.

About Clergerie Group

Clergerie Group owns three brands: Robert Clergerie (women), Fenestrier (men) and Espace (midscale women). It manages 20 direct operated shops located principally in France, the United Kingdom, Spain, Switzerland and the United States.   The Robert Clergerie brand was created in 1981 and in 30 years has become a reference in luxury/upscale women's shoes, especially in Europe and the United States.    The Group employs 200 people and generates revenue of over 20 million euros.    Its production workshop has been based in Romans since 1895.

About Jean‐Marc Loubier

Jean‐Marc Loubier is a recognized executive in the luxury, fashion and retail businesses, with an extensive international expertise.  He also invests in companies specialized in these sectors.  Over a 16 year period, he held key managing positions within LVMH Group, notably between 1990 and 2000 asDirecteur general adjoint of Louis Vuitton Malletier, and between 2000 and 2006, as CEO of Céline. He joined Escada Group in Munich in 2007 as Group CEO where he implemented a major restructuring.   Since 2008, when he founded HKL Holding, he has been managing the repositioning and development of international companies in Asia and Europe.

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