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Marquee Brands signs agreement with FFBM

Jun '19
Pic: Marquee Brands
Pic: Marquee Brands
Marquee Brands has signed an agreement with Fosun Fashion Brand Management (FFBM), a subsidiary of Fosun Fashion Group (FFG), a strategic fashion unit of China giant Fosun International. Marquee Brands owns and manages eight world class labels and is backed by committed capital from an investment fund privately sponsored by Neuberger Berman.

The deal provides Marquee Brands regional knowhow and experience as they launch select brands into key growth market. It is an innovative multi-brand deal to benefit both the parties as they build their portfolio securing licensing and retail opportunities throughout China. Initially, the agreement covers a select group of Marquee Brand’s portfolio including Ben Sherman, Bruno Magli, Dakine, BCBGMAXAZRIA and BCBGeneration. However, the deal allows for calculated long-term goals and solid future growth partnerships within Asia on relevant brands within the region.

Marquee Brands president Michael DeVirgilio remarked, "As the global landscape of retailing changes there is little doubt that it changes faster in China than any other market. We made the strategic decision to partner with a strong organisation 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."

Both companies have established themselves as global leaders in brand management and acquisitions. Fosun Fashion Group’s portfolio includes luxury fashion house Lanvin, Wolford, St John Knits, and Caruso. Since 2014, US-based, Marquee Brands has established itself as a world leader in brand management and most recently acquired Martha Stewart, and Emeril Lagasse, creating a new home and food sector within its growing portfolio.

FFBM chief executive officer James Chen commented: "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. The partnership is the first step for further strategic cooperation in the near future." Chen added, "Marquee Brands has a portfolio of global brands each with a great heritage, the company led by Michael DeVirgilio whose capabilities are proven and backed by Neuberger Berman, supported by FFBM's Chinese market competencies are powerful components to ensure strong success in a competitive market". (SV)

Fibre2Fashion News Desk – India

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June 2019

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