The owner of Ben Sherman, Marquee Brands, has signed a strategic partnership with Chinese conglomerate Fosun to launch its brands into China.
The deal is with Fosun Fashion Brand Management (FFBM), a subsidiary of Fosun Fashion Group (FFG), and will secure licensing and retail opportunities throughout China for Ben Sherman, Bruno Magli, Dakine, BCBG Max Azria and BCBGeneration.
Marquee Brands president Michael DeVirgilio said: “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 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.”
FFBM chief executive James Chen added: “The partnership is the first step for further strategic cooperation in the near future. Marquee Brands has a portfolio of global brands each with a great heritage, the company led by 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”.