Aromatic bath & body care products chain Laline Ltd. has signed a franchise agreement with Wing Tai Holdings Ltd. (SGX: WINGT) to open 15 stores in in Singapore. One store is already open.
Wing Tai unit Wing Tai Retail operates hundreds of stores in Singapore and Malaysia, selling international brands such as Adidas, Topshop, and Uniqlo.
Laline is also expanding its operations in Japan, with the opening of its sixth store in the country.
Laline posted NIS 111 million revenue in 2011, 24% more than in 2010. Its gross profit margin was 72.1% in 2011, and its operating profit margin rose to 17.7% in 2011 from 13.6% in 2010.
So far this year, Laline has opened four stores in Israel, and will open four more by year-end, to reach a total of 77 stores in the country.
Published by Globes [online], Israel business news - www.globes-online.com - on May 20, 2012
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