Oettinger Davidoff AG has entered in a joint venture with Sparkle Roll Group Limited.  The goal of this partnership will be to expand the base of Davidoff Cigars and Accessories in China. Earlier this year, it was announced a framework had been established between the two companies to form the partnership. Under the agreement a new joint venture company has been formed where Oettinger Davidoff AG will own 49.9% while Sparkle Roll Group will own 50.1%.  The move by Oettinger Davidoff AG fits in with the company’s strategy to grow its presence in the Asian market.

Sparkle Roll Group Limited has been involved with engaging in the trade of top tier consumer goods such as automobiles, watches, and jewelry.  The company is a publicly traded company on the Hong Kong Stock Exchange.

In a press release announcing the joint venture, Hans-Kristian Hoejsgaard, CEO and Board member of Oettinger Davidoff AG, said: “The signing of this Joint Venture agreement heralds a new era in our relationship with Sparkle Roll and in our commitment to building the Davidoff business in China. This market represents the single largest business opportunity for Davidoff in our time and I am convinced that with this new Joint Venture we will be able to exploit that opportunity to its fullest.”

Mr. Tong Kai Lap, Chairman of Sparkle Roll also commented, : “Since the individual customers of Sparkle Roll’s existing principal business in top-tier automobiles are predominantly people with high spending power, the Joint Venture will create synergies for both companies. The end products in both businesses are perceived to have the same target customer group and market positioning in the premium segment.”