(From right) Deputy Consul General of Consulate General of the Federal Republic of Germany, Helmut Rausch; InvestHK's Mike Rowse; chairman of German-based LCN, Michael Kalow; CEO of LCN Group, Orpheus Choy; actress Cally Kwong and LCN's Asia Pacific Director of Education, Mrs Eva Choy  at the opening ceremony of LCN Group

Serving as the Asia-Pacific headquarters, the joint-venture company - LCN Group Ltd. - will take advantage of the Closer Economic Partnership Arrangement (Cepa) to set up a production plant in Hong Kong.

The chairman of Wilde Cosmetics, Michael Kalow said the company is committed to expand its presence in Asia, with the Hong Kong JV as an important first step. He said that Hong Kong was the company's first choice for its regional headquarters.

"Thanks to its strategic location, business-friendly environment and world-class services, Hong Kong has been and remains the best platform to trade with China and the rest of Asia. It is therefore natural for us to use Hong Kong as our base to seek and identify strategic partners," he said.

Mr Kalow added: "We are very pleased to form this new joint venture with LCN (Hong Kong) Ltd. Recognising the high service quality in Hong Kong and lower production costs in the Chinese mainland, we formed this joint venture with the aim of packaging and, at a later stage, producing LCN products in Hong Kong for customers in Asia. We hope that this step will eventually lead to establishing a production base for our worldwide needs."

Marketed by the LCN (Hong Kong) Ltd. in the region, LCN's products are also available in the mainland, Taiwan, Singapore and the Philippines. The company has started to penetrate into other markets in the Asia-Pacific region, including Japan, Korea, Australia and New Zealand.

Director-General of Investment Promotion at Invest Hong Kong, Mike Rowse said Hon Kong is not only a great place for manufacturers to build brand awareness but also to oversee their regional businesses. "The implementation of Cepa has increased the attractiveness for foreign companies to set up in Hong Kong, or to expand business functions here."
 
Based in Germany since 1914, Wilde Cosmetics is one of the world's largest manufacturers of nail, hand and foot care products in the world, with its internationally-known brand LCN. LCN's professional products are available in professional beauty salons and major cosmetics chain shops.
 
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