Marquee Brands allies with Fosun to land in China
New Yorker fashion group expects to commercialize the brands Ben Sherman, Bruno Magli, BCBG Max Azria and Dakine in the Asian country in 2020.
Marquee Brands allies with Fosun to operate in China. The New Yorker fashion company has recently sealed and strategical alliance with the Chinese investment group Fosun to disembark in the Asian country in 2020. The company will distribute the brands Ben Sherman, Bruno Magli, BCBG Max Azria and Dakine.
Body Glove, Martha Stewart and Emeril Lagasse brands, also owned by Marquee, have been excluded from this operation, according to WWD.
The president of Marquee Brands, Michael DeVirgilio, has pointed that his partner in China is “well capitalized and stable”, being able to help the company to position effectively within the country. The executive has explained that the agreement implies more than one brand, because in this way it will be easier to generate scale economy synergies at the time of expanding in the Chinese market.
Marque Brand recently bought the American outdoor brand Dakine
The top executive of the American company did not offered details of how the society is structured, but he indicated that there are “multiple financial incentives in both sides”. The objective is the opening of independent shops for each brand, as well as the launching of the respective ecommerce platforms. The company will fully define its model in the Asian country establishing license and wholesale channels agreements.
DeVirgilio has assured that the current commercial war between the United States and China does not concern him in the effect that could have in the agreement between both companies. Marquee Brands recently acquired the American outdoor brand Dakine. Fosun is owner of Lanvin, Tom Tailor, Wolford, Caruso or St. John Knits.
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