Sitoy Group Holdings Limited (HK:1023) has released an update.
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Sitoy Group Holdings Limited has announced the early termination of its distribution and trademark license agreement with Cole Haan International, which will take effect from November 30, 2024. The decision comes after the Cole Haan business reported significant losses over the past few years, prompting Sitoy to reallocate resources to its self-owned retail brands, especially online. This move is expected to result in a substantial one-off loss for the group in the latter half of 2024.
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