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GBMI sells majority interest in Pony International LLC
15 Apr '06
2 min read
Fashion forward footwear maker Global Brand Marketing Inc announced that it sold its majority interest in Pony International LLC to Sharp Gain Profits Limited, a member of the Symphony Holdings Group based in Hong Kong.
In addition, the two other entities with interests in Pony, including The Firm Shoes Inc and Itochu International Inc, have sold their respective interests to Sharp Gain Profits Limited. Sharp Gain Profits Limited is now the sole owner of Pony International LLC.
"Today's announcement represents a major strategic milestone for GBMI," said Killick Datta, CEO of Global Brand Marketing Inc.
"By selling our majority interest in Pony we have significantly improved the financial strength of GBMI. As we look to 2007 and beyond, we are now poised for further growth, both organically and through additional acquisitions and/or licensing opportunities. This transaction dramatically assists us in our endeavors to take GBMI to the next level," he said.
GBMI will consult with Sharp Gains Profits Limited under a management services contract and will assist with components of the transition for a limited period following the closing of the sale.
Founded in late 1996 by Killick Datta, Global Brand Marketing Inc is the owner of Dry-shoD, Dry-shoD Verde and FunFlopps brands, retail store chain Global Feet, and is the authorized global footwear licensee of Diesel, XOXO, Nautica, and Mecca.
Based in Santa Barbara, CA, GBMI designs, develops and markets stylish footwear for men, women, and children, and is distributed in over 145 countries worldwide.
In addition, the two other entities with interests in Pony, including The Firm Shoes Inc and Itochu International Inc, have sold their respective interests to Sharp Gain Profits Limited. Sharp Gain Profits Limited is now the sole owner of Pony International LLC.
"Today's announcement represents a major strategic milestone for GBMI," said Killick Datta, CEO of Global Brand Marketing Inc.
"By selling our majority interest in Pony we have significantly improved the financial strength of GBMI. As we look to 2007 and beyond, we are now poised for further growth, both organically and through additional acquisitions and/or licensing opportunities. This transaction dramatically assists us in our endeavors to take GBMI to the next level," he said.
GBMI will consult with Sharp Gains Profits Limited under a management services contract and will assist with components of the transition for a limited period following the closing of the sale.
Founded in late 1996 by Killick Datta, Global Brand Marketing Inc is the owner of Dry-shoD, Dry-shoD Verde and FunFlopps brands, retail store chain Global Feet, and is the authorized global footwear licensee of Diesel, XOXO, Nautica, and Mecca.
Based in Santa Barbara, CA, GBMI designs, develops and markets stylish footwear for men, women, and children, and is distributed in over 145 countries worldwide.
Global Brand Marketing Inc
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