1.1 Background of the company
Padini is a Malaysian-domiciled investment-holding company headquartered in HicomGlenmarie Industrial Park, Shah Alam. Incorporated in 1971 as proprietorship under the trade name Hwayo Garments Manufacturers Company, Padini was initially engaged in the manufacture and wholesale of ladies wear. The company subsequently added men’s and children’s lines to its offerings when it established its first three brands from 1975 – 1987. In 1988, Padini discarded its role as wholesaler to take up the role of consignor. Thereafter, the first single-brand store distributing Seed was opened in 1992 in Sungei Wang Plaza, Kuala Lumpur. The company has nine labels in its family of brands and retail in 330 freestanding stores, franchised outlets and consignment counters in Malaysia and around the world.
The company’s subsidiaries include Vincci Ladies’ Specialties Centre Sdn. Bhd., which is engaged in dealing of ladies’ shoes and accessories; Padini C orporation Sdn Bhd., Seed Corporation Sdn. Bhd., Yee Fong Hung (Malaysia) SendirianBerhad (Yee Fong Hung) and Padini International Limited, which is engaged in dealing of garments and ancillary products; Padini Dot Com Sdn. Bhd. (Padini Dot Com), which is engaged in provision of management services, and Mikihouse Children’s Wear Sdn. Bhd. (Mikihouse), which is engaged in dealing of children’s garments, maternity wear and accessories.
Tizio was introduced to the public with the opening of its first outlet in Mid Valley Megamall in Nov 2012 and subsequently in Paradigm Mall on 23 May 2013. Like almost all of the Group’s Brands, Tizio was developed in -house by, and is registered to the group. Anticipate more presence from Tizio in the coming years as the brand has been slated to become an addition to the group’s portfolio of core brands. On 5 March 1998, the group was listed on the Second Board of Bursa Malaysia Securities Berhad (Bursa) and thereafter, transferred to the Main Board on 4 August 2004. The Main and Second Boards merged on 3 August 2009. Major shareholders of the group as at 8 July 2013 are Pang Chaun Yong with 44% and Skim Amanah Saham Bumiputera with 5.0%.