Gelonghui, January 12, 丨 Carman Apparel (301276.SZ) announced that on September 1, 2023, Beijing Carman Apparel Co., Ltd. held the 22nd meeting of the 3rd board of directors to review and pass the “Proposal on Acquiring IP Assets of the HushPuppies (HushPuppies) Brand with Own Funds” in mainland China, Hong Kong and Macau. The Company agreed to sign an “Asset Purchase Agreement” (hereinafter referred to as the “Transaction Agreement”) with Wolverine World Wide, Inc. and Wolverine World Wide HK Limited (the above three companies hereinafter referred to as the “Seller”) in connection with the acquisition of IP assets of the HushPuppies brand in mainland China, Hong Kong and Macau. The total consideration agreed to be paid in the transaction agreement was US$58,800,000 (this amount includes value-added tax, income tax, and stamp duty payable by the seller in China according to law). The subject of the purchase agreement was core trademarks such as “Hush Puppies” and 155 related trademarks in all categories and ownership of IP such as 2 patents, 4 copyrights, and 6 domain names in mainland China, Hong Kong, and Macau.
As of the disclosure date of the announcement, the company has paid the remaining 10% of the transfer consideration as agreed in the agreement, that is, US$5,880,000 and all interest accrued from the 10% consideration in the supervised bank account from the date the transfer of ownership was completed until the actual payment date. Value-added tax, corporate income tax, and stamp duty to be borne and paid by the seller have been paid by the tax authorities. Core trademarks such as “Hush Puppies” and all categories of 155 related trademarks and 2 patents, 4 copyrights, 6 domain names, etc. of IP have been transferred between mainland China and Hong Kong and Macau Special Administrative Regions, and the transfer registration has been completed with relevant government departments or other organizations. The company has obtained relevant supporting documents, and the transaction has all been completed.