News

READEN HOLDING CORP. CLARIFICATIONS

 

Readen Holding Corp. (RHCO.PK) European activities clarification.

 

READEN HOLDING CORP (RHCO.PK) has noticed that there has been a sudden increase in speculation and assumptions regarding the details of it’s European E-Commerce activities.

 We would like to address these points and provide  clarification on these matters.


Readen Holding Corp (RHCO) initially conducted their operations in the online retail business within Asia concentrating primarily on exporting consumer products to the European Markets through their subsidiary company, Readen Industries.


In addition to exporting from Asia, a further subsidiary of Readen Holding Corp, namely D5Avenue.com, as of 2008 concentrated on sales within the European Telecommunications Market under the brand name D5 Mobile promoting various products including mobile phones and associated accessories.


Historically the company Neckermann incorporated in 1967 by Dr. Josef Neckermann as one of
Europe’s leading mail order companies concentrating primarily on the fashion and travel industry.


In the early 2000’s Neckermann Travel was sold off to the Globally renowned company Thomas Cook AG, who still operate the Neckermann Travel agency to this date.


In 2012 the German branch of Neckermann (namely Neckermann.de) went into receivership and was ultimately taken over by OTTO Group.


Subsequently in 2014 the Benelux Neckermann branch, operating under
https://nl.neckermann.com,  was sold to a Dutch Investment company Axivate Capital.

 

In 2016 Readen Holding Corp entered into a partnership with Axivate forming the company Readen Retail BV which resulted in both D5Avenue.com BV and Axivate Benelux (This was previously part of Neckermann Benelux they had purchased) merged into the new venture in which Readen held 72% of the shares and Axivate 28%.


Following the merger, it became quite clear that certain matters during the partnership negotiations had not been disclosed by Axivate which resulted in a lengthy legal litigation between them resulting in a further 20% of Axivate’s shares in Readen Retail BV to Readen Holding Corp as final settlement to resolve and end all legal issues between Axivate and Readen Holding Corp.

In order to clarify the current position following all of the litigation Readen Holding Corp is the sole owner of both the Trade Mark and name Neckermann.com within the boundaries of the Benelux which are comprised of The Netherlands, Belgium and Luxembourg.


In order to clear up any misunderstandings it should be clear that there is no association between Readen Holding Corp and the company OTTO Group who had purchased Neckermann Germany. As of today, OTTO Group is operating the Neckermann brand in Germany under the www.neckermann.de e-commerce store. Readen Holding Corp is operating the Neckermann brand in the Netherlands under the
https://nl.neckermann.com e-commerce store.


Due to the current redirects and DNS records  that have been setup, when browsing the internet from a Dutch, Belgium or French address,
www.neckermann.com will automatically redirect into https://nl.neckermann.com. When browsing the internet from a different country, using the www.neckermann.com address will be redirected to the German www.neckermann.de website.

 

For all other countries where Readen Holding Corp does not hold the Neckermann brand name we are operating under the D5 Avenue brand. Currently actively running www.d5avenue.de and expanding shortly to www.d5avenue.com.

 

Litigation procedures concluded has enabled Readen to fully concentrate on the emerging organisation expanding under new management opening up across Europe and into the Asian markets where we will operate in association with one of their leading retail platforms including dropshipping discounted branded fashion and bodycare products from Italy and France.

 

Moving forward both Neckermann and D5 Retail are rapidly expanding within the business supplying and drop shipping to other companies with quality branded fashion, bodycare, cosmetic products and electronics at the lowest prices.


We trust to have outlined clearly the current positions and status of our companies which has been somewhat maligned by individuals who post on various internet forums who have nothing whatsoever to do with our company. It is quite apparent that individuals who decide to post certain assumptions do so for their own purposes.


Additional details regarding to our international expansion plans will be shared in the near future.

 

This press release may contain forward-looking statements, including but not limited to statements regarding Readen Holding Corporation and its plans, products and related market potential.

Forward-looking statements may be identified by the use of the words "anticipates " "expects" "intends" "plans" "should" "could" "would" "may" "will" "believes" "estimates" "potential" or "continue" including both variations or similar expressions.

These statements are based upon the current expectations and beliefs of management but are subject to certain risks as well as uncertainties that may cause actual results to differ materially from those described in the forward-looking statements.

These risks and uncertainties include, but are not limited to those discussed in Readen Holding Corporation's postings on the OTC Markets Disclosure & News Service and any future filings with the Securities and Exchange Commission, where factors are incorporated herein by reference.

Readers are cautioned not to place undue reliance on any of these forward-looking statements. Readen Holding Corporation undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this press release or to reflect actual outcomes.

Contacts:

Readen Holding Corp.

Kok Wai LEE
+31 3562 99970
info@readenholdingcorp.com