An agreement has been signed by Ningbo Shanshan Co. Ltd. with Japan's Itochu Corporation to use the ELLE trademark in specific regions of China such as Greater China, including mainland China, Hong Kong and Macau, for five years.
As per the agreement, Ningbo Shanshan Co Ltd, which is one of the major apparel producers of China, could use ELLE trademark and logo in particular areas of the country till June 30, 2015. For enjoying these rights, the company will have to shell out a yearly sum, as specified in the agreement.
In the initial year, it will need to pay RMB 1 million, while, according to the agreement, the total fees will not exceed RMB 170 million. Shanshan said that, the agreement will prove to be helpful to improve brand awareness and brand value of the company.
This deal is similar to the global development strategy of the company that has signed a Memorandum of Understanding (MoU), in the month of February, with Japan's Toda and Itochu, in order to develop lithium-ion battery cathode materials.
Fibre2Fashion News Desk - India
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