DGAP-News: Firstextile AG / Key word(s): Miscellaneous Firstextile AG reaches milestone of retail business expansion: VARPUM Image Store opened in Jiangyin (news with additional features) 01.08.2013 / 09:02 --------------------------------------------------------------------- Corporate News 1 August 2013 Firstextile AG reaches milestone of retail business expansion: VARPUM Image Store opened in Jiangyin - Re-launch of Firstextile's VARPUM brand as full range premium menswear brand - New branding plan for the next five years ensures solid and steady brand building - Branding activities led by one of the most successful and experienced managers with proven track record in developing Chinese and international high-end menswear brands Jiangyin (China) / Frankfurt (Germany), 1 August 2013 - Firstextile AG (FT8) held the grand opening ceremony for its brand new directly operated VARPUM image store in Jiangyin, China, on 12 July 2013. This kicks off Firstextile's retail business plan into the premium menswear market after recruiting the new Marketing Director Ms Chen Wei in March 2013. The store provides the new image of VARPUM and will be a role model for further stores to be opened in the future. Firstextile operates at the moment two menswear brands-'VARPUM', which focuses on retail business of premium menswear market and 'Firstextile', which aims the wholesale business for e.g. corporate gifts. After Ms Chen Wei joined Firstextile in March 2013, she and her outstanding team had drawn a new business plan on the repositioning of VARPUM. As a result VARPUM will be re-launched as full range premium menswear brand. Currently, VARPUM runs its business through both distributors and directly operated store channels totaling 12 stores in Mainland China, of which eight are franchised stores and four are directly operated stores (DOS). Henceforth, VARPUM will focus on the development of the DOS channel and increase the number of DOS steadily within the next five years. Besides, Firstextile intends to enhance the VARPUM brand's awareness in the following five years. Thereby the company pushes the process of establishing VARPUM as a leading brand in the premium menswear sector in China within three years and extending VARPUM's brand impact in Greater China and Asia within five years. Including Mr. Xu Dongqing, the member of Standing Committee of Jiangyin Municipal Committee, many government officials, distributors, managers of tier-one department stores and many other partners and friends of Firstextile attended the opening ceremony. On behalf of all guests presented, Mr. Xu extended his congratulations and best wishes to the company: 'It is always pleased and inspiring to see every great progress Firstextile had achieved since its establishment in 2006, from the successful listing on Prime Standard of Frankfurt Stock Exchange in Germany last year to today's grand opening of this image store of 'new VARPUM'. After the re-launch of VARPUM, we are keen to see that in the near future, VARPUM will become one of the leading premium menswear brands not only in China but also in Asia and in a long term also globally. We highly appreciate the great ambition and all the efforts the company has taken to achieve this goal. We, the Jiangyin government, will keep on supporting visionary enterprises like Firstextile, which are equipped with premium quality products, a clear development strategy and an outstanding team.' Fred Yang, CEO and the founder of Firstextile AG, expressed his determination and gratitude: 'This is a symbolic step forward in the development of Firstextile. We are going this way to keep the competitive strength of our Branded Products segment, because its predecessor, the Personal Shirts segment, used to be the most profitable business within the company. I firmly believe, in the next ten years, homegrown Chinese luxury and premium brands will come to the fore and will be able to compete with other international luxury brands. VARPUM will therefore seize the opportunity to stand among the leading menswear brands in the next five years. I am very confident that with all our efforts, our professional operating team and your constant support, VARPUM will achieve a promising future. All our guests will be the witnesses for VARPUM's prosperity in the future.' Pictures of the new store can be downloaded under the following link: http://www.dgap.de/dgap/Companies/?companyId=382328&id=4050 Company profile Firstextile is the leading manufacturer of high-end yarn-dyed fabric in the Chinese market with a market share of approx. 9% in terms of volume in 2011. It also markets fabric and shirts specifically designed for uniforms used by Chinese government institutions and enterprises, as well as its own branded men's shirts with the two brands 'Varpum' and 'Firstextile' for the Chinese premium market segment. The company operates modern production facilities in Jiangyin near Shanghai, China, which is one of the main centres of the Chinese textile industry and it focuses particularly on high product quality. As the company already operates almost at its maximum capacity it plans to use the net proceeds from the successful completion of the IPO in November 2012 and further cash flows to double the current after-finishing capacity of 36 million metres to 72 million metres in order to meet future demand. At the same time, weaving capacity is intended to be expanded from short of 11 million metres to 27 million metres and dyeing capacity from 7,900 tons to 15,800 tons. End of Corporate News +++++ Additional features: Picture: http://newsfeed2.equitystory.com/firstextile/222820.html Subtitle: Fred Yang (CEO) signing on the VARPUM board --------------------------------------------------------------------- 01.08.2013 Dissemination of a Corporate News, transmitted by DGAP - a company of EQS Group AG. The issuer is solely responsible for the content of this announcement. DGAP's Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: Firstextile AG Lyoner Str. 14 60528 Frankfurt am Main Germany Phone: +49 (0) 69 6655 4416 Fax: +49 (0) 69 6655 4418 E-mail: [email protected] Internet: www.firstextile.de ISIN: DE000A1PG8V8 WKN: A1PG8V Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 222820 01.08.2013