Omas was founded by Armando Simoni in 1925, and since then the brand had been developing and becoming one of the most recognized providers of pens and related products. Thanks to its excellent quality and extraordinary innovation, today Omas is part of Xinyu Hengdeli Group, a public company listed on Asia’s premier stock exchange in Hong Kong and already a leader of the luxury watch distribution and retail inAsiathat acquired the stock-holding majority of Omas at the end of 2007 by LVMH.
Market Research on the Special Product of Omas in China
In May of 2008, Omas, the Italian top brand of writing tools, held a grand press conference in Beijing to announce its formal entrance to the Greater China Region as well as to introduce the limited edition of “The Trip of the Phoenix”, which is the pen Omas specifically designed for the 2008 Beijing Olympic Games. It is also been announced that Omas and the Xinyu Hengdeli Group have agreed on the plan of an important merger, as is indicated by a related market research in China.
The enamel Phoenix, elegant and proud, which dominates the reservoir of the Omas fountain pen “The Trip of the Phoenix” copies this faithfully. Only in the aura of mystery surrounding it is the Chinese Phoenix similar to the mythical Egyptian bird which continually rises from its own ashes. It represents the power and prosperity which were the exclusive attributes of the emperor and empress, the only people allowed to wear the symbol of the Feng.
The Acquisition and the Current Development of Omas in China
LVMH, the largest luxury group in the world, sold its Italian pen business, which had been in bad operating condition for a long time, to the Xinyu Hengdeli Group. This can be seen to be a sign of LVMH stopping its step of entering the Chinese writing market. Before the acquisition, actually, the two groups already have many chances of cooperation, with the Xinyu Hengdeli Group as the certificated dealers for many brands of LVMH in the Chinese market.
While the most powerful competitor MontBlanc of Compagnie Financiere Richemont SA was enlarging its business from fountain pen to other luxury areas like briefcase and perfume, the development of Omas, owned by LVMH, has been stagnant. And hence the unsatisfying development of Omas promoted the acquisition of the two groups. After the acquisition, Omas concentrated its business more on the China market. And Omas now owns nearly 20 shops in 12 different cities including Hangzhou and Xinjiang in China, and continues to expand its business in China.
Edited by Amy Wang from Daxue consulting China.
Picture source: bing
