Neo-Concept International Group Holdings Limited announced its expansion plan of UAE and GCC retail markets through the signing of a Memorandum of Understanding with Liwa Trading Enterprises LLC to establish a joint venture company in the UAE. The joint venture will leverage the complementary strengths of NCI and Liwa to expand the reach of apparel products and services in the UAE and wider Gulf Cooperation Council (GCC) region, including Saudi Arabia, Kuwait, Bahrain, Qatar, and Oman. The JV will focus on retail, wholesale, distribution, and e-commerce operations, bringing together NCI's design and supply chain expertise with Liwa's extensive regional market knowledge and established distribution network.

The JV will have an initial term of 10 years, with automatic renewals for successive 10-year periods, unless terminated by either party. The JV is expected to commence operations in the UAE by the fourth quarter of 2024.