Aimer Group gets approved for IPO
3 Feb 2021
Aimer Group, a Chinese lingerie-maker has received approval for initial public offering. China’s Securities Regulatory Commission approved the Beijing-based company to debut on the Shanghai Stock Exchange. The company plans to raise 117.8 million dollars and to issue no less than 40 million shares.
Aimer Group has the distinction of being the fourth Chinese intimates company to go public. The other three include Shenzhen Huijie Group, Cosmo Lady, and Embry Holdings.
Aimer originally launched in 1993, but the parent company Aimer Group has roots dating back to 1981. Over the years the company has expanded its offerings beyond underwear to include loungewear, athleisure, hosiery, and swimwear. Aimer is also known to collaborate with fashion designers like Vivienne Tam.
China’s market for lingerie is growing, having reached 64.49 billion dollars last year. In terms of apparel and retail, China seems poised for growth. The country has managed to successfully handle their coronavirus pandemic, and that has led to an incredible rebound in retail sales. China’s 2020 economic report showed that their economy still managed to grow by 2.3 percent.
photo: via aimeronline.com