Recently, the famous Brtish accessible luxury brand Paul Smith has set up a wholly foreign-owned enterprise in China and completed therestructuring of business of China. Ms. Emilila shi, senior partner and Mr. Ken Dai, the partner of Dacheng Shanghai Offce, providedcomprehensive legal services for this project, including reviewing and amendment of the transaction documents such as Asset and BusinessIransfer Agreements and Distribution Agreements, and the preparation of the application documents of the wholy foreign-owned enterpriseUpon closing of the project, Paul Smith will fully operate its offline operations in China.

In 1976, British designer Paul Smith published his first brand named "Paul Smith" in Paris. Afer decades of development, it has graduallyestablished its position in the British and global fashion industy. As of FY2017, Paul Smith has global sales of e189.4 milion and becoming aleader in the accessible luxury fashion industry. The restructuring of the China domestic business is an important step in completing its globalstrategic layout..