Development Milestones

Our business dates back to the 1970s when it was founded and operated by Mr. Yeung Michael Wah Keung, the Chairman and an executive Director, and Mr. Yeung Wo Fai, the Chief Executive Officer and an executive Director, under the name of Sitoy Hand Bag Fty. As our business continued to expand, we attracted European and U.S. importers and large department store chains as customers. We began to build our in-house handbag design and development capabilities through our involvement in product design and development with these customers. Since 1992, we have been selected by international fashion brand companies to manufacture their branded handbags. Recognizing the increasing demand by international handbag brands for manufacturing products in the PRC, we shifted our business focus towards the development and manufacture of leather handbags and small leather goods for international high-end and luxury brand companies in 1998. As demand for our products increased, in 2005 our management decided to diversify our production base and expand our production capabilities by acquiring land in the PRC and constructing new manufacturing facilities. In order to further capitalize on our expertise in manufacturing handbags and small leather goods, we introduced to our product portfolio men’s products in 2007 and travel goods for leisure and business travel in 2009. Now we had a number of stand-alone retail stores and department store concession counters in various cities in the PRC, as well as in Hong Kong.


Key Milestones

★ 2011   The Group was successfully listed on the Stock Exchange of Hong Kong Limited on 6 December 2011, proudly stepping into a new phaseof development.

 

★ 2011   Introduction of the “TUSCAN'S” brand of handbags and small leather goods and the opening of our first retail store in Guangzhou, Guangdong Province.

★ 2010   Further expansion of manufacturing capabilities through commencement of production of leased manufacturing facilities of our Xiabian Branch and Qiaonan Branch in Dongguan, Guangdong Province.

★ 2009   Commencement of production of our Yingde manufacturing facility in Yingde, Guangdong Province. Diversification of our product portfolio to include travel goods for leisure and business travel.

★ 2007   Installation of our ETS system and ERP system in our manufacturing facilities to evaluate our manufacturing performance and enhance our operational efficiency. Diversification of our product portfolio to include men’s products.

★ 2003   Commencement of handbag manufacturing business for European luxury brands.

★ 1998   Commencement of handbag manufacturing business for U.S. luxury brands. A shift in business strategy of the Group to focus our business on the manufacture of leather goods.

★ 1995   Consolidation of Shenzhen Sitoy Handbag Factory into our manufacturing facilities in Dongguan, Guangdong Province.

★ 1992   Establishment of Sitoy Dongguan and commencement of production of its manufacturing facility in Dongguan, Guangdong Province.

★ 1987   Commencement of operation of Dongguan Houjie Qiaotou Sitoy Handbag Factory (previously known as Dongguan Nanwu Sitoy Handbag Factory) in Dongguan, Guangdong Province.

★ 1982   Commencement of operation of Shenzhen Sitoy Handbag Factory in Shenzhen, Guangdong Province, as the first PRC factory of our Group.

★ 1977   Acquisition of a property based in Kwun Tong, Hong Kong, which is the first factory owned by our Group in Hong Kong.