Kate Spade & Company and Walton Brown, a subsidiary of The Lane Crawford Joyce Group, have formed joint ventures focused on scaling and Kate Spade’s growth in Greater China.
The plan is to establish a network of stores enhanced by a strong marketing platform across China, Hong Kong, Macau and Taiwan.
Kate Spade & Company designs and markets accessories and apparel under two global, multichannel lifestyle brands: kate spade new york and Jack Spade. It also owns the Adelington Design Group, a private brand jewelry design and development group that markets brands through department stores and serves jcpenney via exclusive supplier agreements for the Liz Claiborne and Monet jewelry lines.
The Lane Crawford Joyce Group, on the other hand, is a fashion and brand management group, which includes iconic, luxury department store Lane Crawford, fashion boutique Joyce, fashion footwear, handbags and accessories specialist Pedder Group, retail, brand management and distribution company ImagineX and full service retail management business Walton Brown.
"Kate Spade & Company already has strong appeal and demand in the market, with even stronger growth potential. Together, we will build upon this momentum to establish a broader foundation and fuel Kate Spade & Company’s scale in the region," Thomson Cheng, President of Walton Brown.
Kate Spade & Company also announced a share purchase agreement with E-Land Fashion China Holdings Limited (E-Land), its current partner in China, to acquire E-Land’s 60 percent interest in KS China Co. Limited. (Kate Spade China).
The partnership will align Kate Spade & Company’s existing businesses in China and Hong Kong, Macau and Taiwan under on percent of the shares of Kate Spade China and KS HMT Co., Limited, the holding company for the company’s wholly owned businesses in Hong Kong, Macau and Taiwan.