New York brand management company Marquee Brands announced its decision to form a multi-brand distribution deal with Fosun Fashion Brand Management (FFBM), a subsidiary of Fosun Fashion Group (FFG), which is owned by Chinese giant Fosun International.
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The partnership struck between Marquee Brands and FFBM is a multi-brand deal which will benefit all parties, stated the U.S. brand management firm. The new agreement looks to give both companies the opportunity to secure licensing and retail opportunities throughout China, it added.
“As the global landscape of retailing changes there is little doubt that it changes faster in China than any other market,” said Marquee Brands president, Michael DeVirgilio.
“We made the strategic decision to partner with a strong organization with local operational expertise as the best approach to introduce our brands to this very dynamic market. Having personally known James Chen for over 20 years and seen his ability to launch, support and grow global brands in China, Fosun Fashion Brand Management was the obvious choice for us.”
Initially, the agreement covers a select group of Marquee Brand’s portfolio including: Ben Sherman, Bruno Magli, Dakine, BCBG MaxAzria and BCBGeneration. The deal does not include Marquee Brands’ Body Glove, Martha Stewart or Emeril Lagasse brands.
In February, Fosun announced the creation of the Fosun Fashion Brand Management Company, defining it as “a structure designed to accompany brands hoping to capture the Chinese market.”
“As the Chinese operating platform of Fosun Fashion Group, FFBM is pleased to bring Marquee Brands into China, combining leading international brands with Chinese market competencies and Fosun Group resources,” said FFBM chief executive officer, James Chen.
“The partnership is the first step for further strategic cooperation in the near future.”
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Founded in 1992, Fosun Fashion Group’s portfolio includes luxury fashion house Lanvin, Wolford, St John Knits, and Caruso.