The Shoe Brand, Nine Hee's Parent Company, Has Invested Nearly $900 Million In Blackstone For Digital Expansion.

In August 12th, the American fashion media "women's Wear Daily" reported that in 2018, the Nine West, the brand name management company Authentic Brands Group (ABG), was awarded the investment from Blackstone, the world's largest Asset Management Co.

The investment was promoted by a long-term private equity fund under Blackstone, involving an amount of US $875 million (about 6 billion 179 million yuan). After the completion of the transaction, Blackstone will become the largest shareholder of Authentic Brands Group. Authentic Brands Group can use this fund to launch a more radical global and digital expansion.

It is reported that as one of the world's largest women's leather shoes design, manufacture and distributor, the nine Xi group began to enter the Chinese market in 1994, and was once loved by young Chinese white-collar workers. In April 2018, Jiu Xi group applied for bankruptcy protection to the bankruptcy court of Manhattan for failing to pay a debt interest in time, and shut down the 75 core stores of the same name, Jiu Xi, in the United States and Canada. In June of the same year, the main brand nine hee and another main shoe brand Bandolino were sold by the US brand management company Authentic Brands Group at the court auction. In September of the same year, Jiu Xi closed the official flagship store of Tmall, and gradually closed down the store and withdrew from the Chinese market.