THE WHAT? Hong Kong-based Tycoon is said to be gearing up for an IPO and has signed a Joint Venture with CR Pharm to tap the vast and growing PRC health care and hygiene products market.
THE DETAILS The company has already proved its agility in the face of the COVID-19 crisis, switching production to sought-after personal hygiene products such as hand sanitizer and wet wipes at the onset of the crisis and leveraging its strong connections with health care brands overseas to distribute the same.
The firm says that the outbreak has had ‘minimal impact’, with average revenue during the first two months of FY2020 largely comparable with that of the last six months of FY2019.
THE WHY? The JV will give Tycoon a broader reach, as well as up sales and profit for the firm, with Tycoon betting that the pandemic will result in a collective rise in health-conscious consumers.