Fosun creates a subsidiary to manage fashion brands in China
The group, that has in its portfolio brands such as Lanvin, Folli Follie, St. John or Caruso, created the society Fosun Fashion Brand Management (Ffbm) to maximize the control of brands in the country.
Fosun will boost the fashion in its local market. The Chinese group, owner of Lanvin, Tom Tailor or Caruso, created the subsidiary Fosun Fashion Brand Management (Ffbm), which will be in charge of managing brands of companies that operate in the Asian giant.
The new company leads its services to the different brands that try to approach the Chinese market. Ffbm will carry out operations with wholesalers and retailers, will be responsible for administration and commercialization of the brands, recruitment of human capital and development of a back office support.
Fosun appointed James Chen as CEO of Ffbm. The executive was founder of Uccal Fashion Group, where he managed and launched more than seven hundred mono-brand stores in the Chinese market of companies such as Roberto Cavalli, A. Testoni, Isaia, St. John or Missoni.
This week, Fosun also performed a new move in the fashion market. The investment group submitted a share acquisition offer to increase control of Tom Tailor to 35.5%. Currently, Fosun owns 30% of the capital of the German company.
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