Style Merchants (STY): formerly known as Netelusion, company has since been renamed to STY, following recent acquisition of 55% stake in Retail Resources Management (RRM)in Jun ’10. RRM has been in the women's fashion retail business in China since late 2007, with main label 'The Carnaby'; plans to open 50 more fashion retail outlets in cities of various tiers in mainland China over the next year, vs current 19
Expansion will be funded through STY's recent 'over-subscribed’ US$7m rights issue. The target market is middle-class women in their 20s to early 30s. The Carnaby has a 3-yr agreement with Stephanie Sun, who will be the brand’s guest designer and model.
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