Global Brands Group Holding Limited, one of the world’s leading branded apparel, footwear, fashion accessories and lifestyle product companies, commenced trading on the Main Board of The Stock Exchange of Hong Kong Limited (SEHK). The spinoff of Global Brands from Li & Fung Limited (“Li & Fung” or SEHK Stock Code: 494) enables the Group to leverage its well-established platform to significantly accelerate the growth of the business globally.
Global Brands designs, develops, markets and sells products from its portfolio of licensed and owned brands worldwide. The spinoff of Global Brands from Li & Fung Limited, and the establishment of a separate management team, became effective on 7 July 2014.
Global Brands’ share listing debut was witnessed on the floor of the Hong Kong Stock Exchange by the Honorary Chairman of Li & Fung Limited Dr. Victor K. Fung, the Group’s Chairman, Dr. William K. Fung, the Group’s Chief Executive Officer and Vice Chairman, Mr. Bruce Rockowitz and the Group’s President Mr. Dow Famulak. Also joining were Mr. Chung-Kong Chow, Chairman of Hong Kong Exchanges and Clearing, the Group’s Independent Non-Executive Directors, Dr. Allan Zeman and Ms. Audrey Wang Lo, as well as other guests at the listing ceremony.
Dr. William K. Fung, Chairman of Global Brands Group Holding Limited said, “Listing on the Hong Kong Stock Exchange is a significant achievement for Global Brands, and for Li & Fung. Running a successful brand business requires a different set of skills to running a sourcing business, and by spinning off Global Brands, both companies are now able to focus on their respective core competence and to continue to excel in their own right.”
He continued, “As a separate business, Global Brands can now better leverage their scale, extensive network and considerable expertise to achieve growth at a much faster pace. We are very excited about the prospects for Global Brands and look forward to maximizing the many opportunities ahead of us.”
Mr. Bruce Rockowitz, Chief Executive Officer and Vice Chairman of Global Brands Group Holding Limited, said, “Over the past ten years, Global Brands has already developed an impressive and diverse portfolio of some of the world’s strongest brands.
"This day marks the start of a new chapter for the Group, and we are very focused on growing the business and adding to our already sizeable brand portfolio. In addition, we will take our brands global, expose them to new markets and expand our footprint in emerging markets, particularly in Asia, while further strengthening our market position in the U.S.”