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Tag: partnership

  • LVMH’s L Capital in PE merger deal

    LVMH’s L Capital in PE merger deal

    In a marriage of high fashion and finance, a new partnership is being formed by luxury products company LVMH with two equity firms, Catterton and Groupe Arnault.

    They have agreed to create L Catterton, combining private equity firm Catterton’s North and Latin American interests with LVMH and Groupe Arnault’s European and Asian private equity and real estate interests, now under the Singapore-based L Capital and the L Real Estate banners. Under the terms of the agreement, L Catterton will be 60 per cent owned by the partners of L Catterton and 40 per cent jointly owned by LVMH and Groupe Arnault.

    This will make L Catterton the largest global consumer-focussed investment firm with six distinct and complementary fund strategies specialising on consumer buyout and growth investments across Asia, Europe, and North and Latin America, as well as prime commercial real estate globally. After various successor funds are closed, L Catterton expects to grow its assets under management to more than $12 billion, drawing on 27 years of experience with more than 120 investment and operating professionals in 17 offices across five continents. It will be led by global co-CEOs J. Michael Chu and Scott A. Dahnke, currently managing partners at Catterton.

    “The breadth of our collective expertise will be second to none in the consumer industry,” says Chu.  “And we look forward to benefitting from the strength and global reach of the team at L Capital and L Real Estate as we continue to seek out investment opportunities with significant growth potential.”

    “The globalisation of media and technology, combined with increasingly permeable geographic borders, is driving rapid consumer growth on an unprecedented global scale,” said Dahnke.

    Catterton invests in all major consumer segments, including food and beverage, retail and restaurants, consumer products and services, consumer health, and media and marketing services. Its investments include CorePower Yoga, Kettle Foods, Nature’s Variety pet food, Noodles & Company, Outback Steakhouse, PF Chang’s, Plum Organics, Restoration Hardware, Protein Bar, Snap Kitchen, Sweaty Betty and Wellness pet food.

    L Capital invests in companies across Asia and Europe in such sectors as beauty and wellness, fashion and accessories, food and beverage, media and entertainment, and special retail. Founded in 2001 with support from LVMH and Groupe Arnault, it specialises in lifestyle brands and selective retail businesses in Europe. L Capital – Asia is Asia’s largest consumer-focussed private equity firm with headquarters in Singapore, and regional offices in Hong Kong, Melbourne, Mumbai and Shanghai. Its investments include 2XU, Asiaray Media, Bateel, Charles & Keith, Emperor Watch & Jewellery, Jones the Grocer, Marubi and Sasseur.

    L Real Estate develops mixed-use projects anchored by luxury retail. Its investments include G6 in Ginza, Tokyo, and Miami Design District.

    LVMH (Moet Hennessy Louis Vuitton) is represented in fashion and leather goods by a portfolio of brands including Celine, Donna Karan, Fendi, Givenchy, Kenzo, Loewe, Louis Vuitton and Marc Jacobs. Its wines and spirits division includes Belvedere, Chandon, Cloudy Bay, Dom Perignon, Hennessy, Krug, Moet & Chandon and Wenjun. In the perfumes and cosmetics sector it has Guerain, Parfums Christian Dior, Parfums Givenchy, Parfums Kenzo and Perfumes Loewe.

    LVMH’s retail interests include DFS, Le Bon Marche and Sephora, it has a joint venture with De Beers Diamond Jewellers, and its watches and jewellery division comprises Bulgari, Chaumet, Dior Watches, Hublot, TAG Heuer and Zenith.

    Subject to customary regulatory and certain investor approvals, the L Catterton transaction is expected to close early this year.

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  • Uniqlo to launch Liberty London range

    Uniqlo to launch Liberty London range

    Uniqlo has announced a collaboration with high end UK department store Liberty London to create an exclusive range of apparel.

    Liberty London for Uniqlo will launch with a Spring/Summer 2016 collection, in stores from Spring.

    The collaboration brings together a special selection of Liberty’s iconic floral prints with women’s, girls’, babies’ and men’s products for Uniqlo LifeWear, whose signature innovations make clothing lighter, more comfortable, affordable and accessible to all.

    Liberty started in London’s Regent Street in 1875, selling ornaments, fabrics and artworks from Japan and elsewhere in Asia that inspired some of the 42,000 prints that make up Liberty’s print archives.

    Extensive collections of Liberty catalogues, dresses and textiles, housed at The Victoria and Albert Museum, attest to the myriad contributions to art, culture, and fashion of one of the world’s most prestigious brands.

    Liberty’s mock-Tudor-style building on Great Marlborough St is a destination for fashionistas and an epitome of classical British design.

    The Liberty London for Uniqlo collection will be sold worldwide in Uniqlo stores.

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  • BCBGMaxAzria opens Tmall store

    BCBGMaxAzria opens Tmall store

    BCBGMaxAzria, the US premier lifestyle fashion brand has partnered with B2C cross-border eCommerce solutions provider VoyageOne to expand its online footprint in China.

    “We are pleased to launch of BCBG on Tmall. We are very optimistic about the opportunity in China,” says Max Azria, founder, chairman and CEO of BCBG Max Azria Group.

    BCBGMaxAzria’s flagship line is now available to Chinese online shoppers on Alibaba’s Tmall Global through VoyageOne’s platform. BCBGMaxAzria can now efficiently integrate, sell, and manage its online selling process across multiple marketplaces in China.

    “BCBGMaxAzria is a truly an American flagship designer brand and completely understands the complexity of cross-border eCommerce landscape in China and the need for a proven technology and solution delivery mechanism by which BCBGMaxAzria seamlessly integrate, launch and manage its online footprint in China,” said Dennis Zhang, VoyageOne CEO.

    “We’re extremely pleased to partner with BCBGMaxAzria to delivering true online shopping and customer service experiences through a single platform while help them grow their online business in China.”

    Michelle Magallon, SVP of digital commerce & omnichannel with BCBG Max Azria, says China is an important international market for the brand.

    The BCBGMaxAzria Winter 2015 collection is already available at Tmall’s Hong Kong and China stores.

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  • Developer DM Wenceslao partners with Hongkong Land through Joint Venture

    Developer DM Wenceslao partners with Hongkong Land through Joint Venture

    D.M. Wenceslao and Associates, Inc. (DMWAI), a developer with one of the largest landbanks in Metro Manila, is teaming up with Hongkong Land through a joint venture (JV) between their respective subsidiaries, Portal Holdings, Inc. and Hongkong Land (Philippines) B.V.

    In a statement, DMWAI said the joint venture will develop primarily residential projects over a land area of approximately 26,000 sq.m.

    The property is within DMWAI’s latest and most innovative project, Aseana City, which occupies a waterfront site with a prominent location in the Manila Bay area.

    Hongkong Land is a listed leading property investment, management and development group which owns and manages almost 800,000 sq. m. of prime office and luxury retail property in key Asian cities, principally in Hong Kong and Singapore.

    It has significant experience in the establishment of world-class residential and business hubs such as the Hong Kong Central Business District and the Marina Bay Financial Centre in Singapore.

    The firm also has a number of residential and mixed-use projects under development in cities across Greater China and Southeast Asia.

    Hongkong Land’s established international track record and experience in developing regional waterfront projects will bring a fresh world-class perspective to the development of Aseana City, said DMWAI.

    DMWAI will also contribute its well-established local development and construction expertise, and a portion of its prime landbank in the Manila Bay Area to the joint venture.

    “We believe that partnerships like this will give us the right combination of local knowledge and global development standards and expertise” said DMWAI chief executive Buds Wenceslao.

    He added that “this is one of the company’s key visions; to transform Aseana City into the Philippines’ next generation city and provide a higher quality of real estate products to our nation.”

    DMWAI is an integrated property developer with an established track record and market-leading capabilities in land reclamation, construction and real estate development. The company has one of the largest land holdings in Metro Manila with over 58 hectares of land.

    Aseana City, the company’s prime asset, is strategically located next to the Entertainment City in the Manila Bay area, and positioned as the next major mixed use CBD within Metro Manila.

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  • Daiso, Robinsons Retail to strengthen PH partnership

    Daiso, Robinsons Retail to strengthen PH partnership

    Daiso Industries Ltd. is impressed with the growth of the Daiso Japan store chain in the country.

    Japan founder and President Hirotake Yano was recently in the country as one of the speakers of the 17th Asia-Pacific Retailers Convention and Exhibition (APRCE) Manila 2015.

    He also met with officials of Robinsons Retail Holdings Inc. (RRHI), appointed franchisee in the Philippines of Daiso Industries. RRHI is led by Robina Gokongwei-Pe, Wilfred Co and Katherine Michelle Yu.

    Yano added that he is very happy with the growth of Daiso Japan in the Philippines. “I first came here four years ago and observed that it was experiencing a very competitive growth, one that was comparable to Daiso in Japan.  I am actually quite proud of this development.”Yano reaffirmed the strong and exclusive partnership between the two companies as he expressed his satisfaction over the Supreme Court’s final ruling in June this year, preventing Japan Home Center (JHC) from using the trademark Daiso.  He reiterated that RRHI is Daiso’s only authorized and licensed partner in the Philippines. It will be recalled that Daiso Industries Co., Ltd filed a complaint with the Intellectual Property Office against Japan Home Center (JHC) in 2009.

    There are now 44 Daiso Japan stores in the Philippines and over 2,400 stores in 30 countries around the world.

    Both Yano and Gokongwei-Pe reiterated the strength of their business collaboration that was sealed in 2008. “I am very confident with the leadership of the Robinsons Group as our Daiso Industries’ exclusive retailer in the Philippines,” he said. “That is why I look forward for continued growth as customer demand increases.”

    Gokongwei-Pe is likewise very optimistic about the expansion of the Daiso Japan brand. “We brought it here knowing that it is a big brand from Japan that offers good quality and affordable products. That, for me, is the best combination that is very much suited to the Philippine market. The items in our stores are the real Daiso merchandise from Japan.  There is a guarantee behind the name and the partnership that we have with Daiso Industries,” Gokongwei-Pe said.

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  • Mango stops partnership JC Penney

    Mango stops partnership JC Penney

    Spanish fast fashion retailer Mango is to close 450 points of sale in the US after deciding not to renew a partnership agreement with department store JC Penney.

    The two companies had a five year contract where Mango operated concessions in 450 of the department stores, but they collectively account for just 0.5 per cent of the label’s global sales.

    The stores will close in February, leaving Mango with just seven stand alone stores in the US.

    But a spokesman for the company said it would not be exiting the US market. Instead it will look to open more of its own stores over time, in selected key cities such as New York and Miami.

    Privately-owned Mango is struggling to hold its own against its larger rivals, fellow Spanish brand Zara and Swedish label H&M, internationally, despite a presence in 100 countries. Its profit fell 11 per cent last year.

  • Hunger Games theme park planned for Zhuhai

    Hunger Games theme park planned for Zhuhai

    Two Hong Kong companies have formed a joint venture to secure the rights from US cinema giant Lionsgate to create a Hunger Games theme park in Zhuhai.

    The companies are now planning a themed destination which would include amusement attractions, retailing and dining and ultimately cash in on Zhuhai’s upcoming connection by the new road bridge under construction linking Macau, Hong Kong and Zhuhai City on Macau’s border.

    Zhuhai Hengqin Laisun Creative Culture City Co Ltd is the developer, 80 per cent owned by Lai Fung Holdings Limited and 20 per cent by eSun Holdings Limited.

    The new company has entered into a License Agreement with Lionsgate LBE for the development and operation of an Immersive Experience Center (“IEC”) in Phase I of the Creative Culture City Project in Hengqin, Zhuhai.

    LG is a major Hollywood film and entertainment producer and owns a series of blockbuster hits such as The Hunger Games series, Divergent and Now You See Me.

    “These IPs will be developed and applied for use in the IEC,” the two Hong Kong companies said in a joint statement.

    “The size of the IEC will be approximately 22,000 sqm, containing multiple interactive experiences with at least 10 to 15 attractions developed from six Lionsgate IPs plus food and beverage facilities as well as retail concessions.”

    The licence will last 10 years with an option to renew for another 10 years.

    “Pursuant to the terms of the License, LG will license various intellectual property rights to ZH and provide various support services, in return for payments, largely in the form of royalties payable on a periodic basis.

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  • Thai events organiser taps into Myanmar’s showbiz potential

    Thai events organiser taps into Myanmar’s showbiz potential

    Co-chief executive officer Kriangkrai Kanjanapokin said yesterday Myanmar was transforming into a new era of development that needed infrastructure, real-estate projects, accommodation and transport.

    This presented a huge opportunity for foreign investors, including Thai enterprises.

    Through its joint-venture company ICVeX based in Yangon, Index Creative Village will next year hold “Myanmar FoodBev” and “Myanmar Retail Expo” from August 18-20 and the third edition of “Myanmar Build and Decor”, from October 6-8 at Myanmar Event Park, which is owned and managed by business partner Forever Group.

    Kriangkrai said the construction industry in Myanmar was growing fast, with a compound average growth rate of 20 per cent. The residential and infrastructure sectors comprise almost 80 per cent of the industry, especially residential projects, which account for 49 per cent of investment value.

    According to the Myanmar Department of Human Settlement and Housing Development, only 7,000 houses are currently being constructed but annual demand appears to be around 20,000 units. The government has indicated its willingness to cooperate with the private sector in the construction industry in key cities such as Yangon and Mandalay while carrying out construction in other areas of the country using government loans.

    “We hope that ‘Myanmar Build and Decor’ will be a platform that enables Thai companies related to the construction industry to meet local developers for greater cooperation,” Kriangkrai said.

    He also said there were lots of opportunities for retail business, which was being transformed from traditional to modern trade.

    To cash in on this transformation, major retailer Siam Makro is reportedly keen on expanding its business in Myanmar.

    However, Kriangkrai believes that traditional shops will also look at improving their service with new equipment and management systems from Thai companies on display at Myanmar FoodBev and Myanmar Retail Expo.

    Apart from trade fairs, the company has also formed a joint venture with Suravath Pinsuwanbutr, the owner of Myanmar Alliance Travel and Tours, to offer marketing service for brands and products.

    This service includes organising direct marketing, product demonstrations at points of sale, on-the-ground event and lucky draws.

    Suravath said that after operating for two months, the JV had secured seven or eight projects. The tourism business is another area that Index Creative Village wants to focus on in the near future.

    After entering a partnership with Bagan Myanmar, a travel and hotel operator, the company invested Bt50 million on light and sound equipment for the “Dandaree” cultural show. Kriangkrai hopes the show will hit break-even point within four or five years. Next year, he plans to introduce this show to international tourism operators at the “Asia Tourism Forum” in the Philippines, “ITB Berlin” in Germany and “World Travel Market” in Britain.

    He said he was in talks with another company based in Yangon that is keen on a similar cultural show.

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  • FamilyMart-Uny seal merger

    FamilyMart-Uny seal merger

    A merger of Japan’s third and fourth-ranked convenience store operators is set to create a “third force” in Japanese retailing behind Seven & I and Aeon.

    The FamilyMart-Uny merger terms have now been agreed and the two companies are now working towards an implementation date of September 2016.

    FamilyMart will soak up smaller Uny, which operates the Circle K Sunkus convenience store network in Japan. A new holding company will be created, 30 per cent owned by Japanese trading house Itochu, which currently owns three per cent of Uny and is FamilyMart’s single largest shareholder.

    Once merged, the new business will turn over around US$42.2 billion from some 18,000 stores, a network larger than current second placed Lawson and on a par with Seven Eleven Japan.

    The merger has already taken some eight years to negotiate making it nine years by the time the merged entity begins trading. It was back in 2007 when FamilyMart first approached Uny, an offer initially rebuffed.

    Some details have yet to be finalised – or announced – such as the future of Uny’s 230 or so general merchandise stores in what will essentially become a convenience store operator.

    Uny president Norio Sako says there will be some store closures, decided “on their individual merits”.

    There is also no final agreement yet on whether a single operating brand will be adopted.

  • Brooks Brothers, Walton Brown seal China JV

    Brooks Brothers, Walton Brown seal China JV

    Brooks Brothers Group, America’s oldest retailer, and Walton Brown Group, have signed a 10 year joint venture to market the brand in Greater China.

    A 50/50 joint venture company has been established which will launch in January 2016 for an initial period of 10 years. It will take over the management of Brooks Brothers’ existing retail network of 90 stores in the market territory and plans to open more than 10 points of sale in the first two years across key cities in China, Hong Kong, Macau, and Taiwan.

    In addition to freestanding stores, the JV will invest deeply in a multi-channel distribution platform providing wholesale, outlets, travel retail and eCommerce channels to bolster brand presence and fuel business growth in the region.

    The move comes several months after the announcement by Hong Kong’s Dickson Concepts it would not be renewing its partnership with Brooks Brothers when it expires on December 31.

    The two companies in the new JV believe the arrangement will leverage the strengths and capabilities of Walton Brown, a subsidiary of The Lane Crawford Joyce Group, with experience in strategic retail brand management in Greater China with the global appeal of Brooks Brothers, “one of America’s most iconic clothing brands,” augmenting its dynamic growth across the Greater China region.

    The partners say that building on the success of Brooks Brothers’ ready-to-wear menswear and accessories collections, the product offerings within its women’s collection and accessories lines will be enhanced with the appointment of influential US designer Zac Posen as the creative director for women’s wear. His first women’s collection will debut in Spring/Summer 2016 and will be available worldwide.

    Claudio Del Vecchio, chairman and CEO of Brooks Brothers, said the JV will enable Brooks Brothers to develop long-term growth strategies across multiple online and offline distribution channels especially in China, one of its most important growth markets for the global business.

    “We are confident in China’s growth prospects in the premium sector for the coming years and this is the optimal time for us to position Brooks Brothers for long term sustainable growth,” said Del Vecchio.

    “With Walton Brown’s in-depth local market insights and extensive distribution capabilities and network in retail, we believe we can capture new opportunities to further deepen our relationship with Chinese consumers.”

    Walton Brown president Thomson Cheng said that in the 12 years since Brooks Brothers entered China, the brand has built a strong following of customers.

    “With the foundation in place, we believe the brand has enormous potential with the new generation of sophisticated and prosperous consumers in China and with the launch of the online business in 2016 we will be able to significantly increase reach with this consumer segment.”

    Following the formation of the joint venture, Brooks Brothers and Walton Brown will establish a corporate office and showroom in Hong Kong in early 2016.

    Brooks Brothers today operates more than 460 stores worldwide including over 130 retail stores in the Asia Pacific region, 90 of which are in Greater China.

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  • Walmart China partner sells out

    Walmart China partner sells out

    Walmart China’s local business partner wants out of its joint venture.

    State-backed China Resources Group has put the minority interests it has in 21 Walmart China stores on the market, seeking US$525 million. Most of the interests equate to about 35 per cent of the respective stores.

    China-based spokesman for Wal-Mart David Fu confirmed the sale in an email to Reuters. He said the firm respected the “investment decision” of its partner.

    “Wal-Mart believes that the transfer of minority interest will not influence Wal-Mart’s operation and development in China,” he said.

    The affected stores are located in various parts of China, including the western Sichuan province and the capital city Beijing.

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  • Burberry launches on Kakao

    Burberry launches on Kakao

    Burberry is the first British luxury brand to launch on Korea’s largest social platform, Kakao.

    Burberry and Kakao have formed a global partnership, which was inaugurated with the showcase of Burberry’s Womenswear Spring/Summer 2016 show last month.

    Burberry will be active across Kakao Talk, Kakao TV and Kakao Giftshop, offering Korean audiences direct access to its runway shows, campaigns and events bringing Kakao’s 190 million followers even closer to the British luxury brand.

    To celebrate the launch, Burberry will offer a selection of products to buy direct from the runway, through Kakao Giftshop.

    Burberry has also recently formalised partnerships with Apple Music, Snapchat and Line.

    Burberry CEO and chief creative officer Christopher Bailey described Kakao as “an incredibly creative and innovative company”.

    “So it is very exciting to be collaborating with them. The creative and commercial aspects of the partnership have been carefully designed to allow us showcase our culture and design heritage whilst also giving users the chance to shop at the same time.”

  • Sa Sa opens JD.com flagship

    Sa Sa opens JD.com flagship

    Sa Sa International says its online arm sasa.com will launch a Sa Sa flagship store on JD.com’s eCommerce platform, JD Worldwide .

    The move opens the way for more than 100 million JD shoppers to access Sa Sa products in the Mainland as well as in Hong Kong.

    “As a leading cosmetics retailing group in Asia, Sa Sa has been striving its best to provide quality products, best value and professional service to its customers,” said the company in a statement.

    “To flexibly respond to the huge demand from Mainland Chinese customers for cosmetics products and the increasing popularity of eCommerce in the mainland, the group proactively expands its eCommerce business in China through sasa.com and continues to improve its service, making every effort to offer a better shopping experience for more consumers.”

    JD.com is China’s largest online direct sales company with over 100 million active users. Its online shopping mall is content-rich, user-friendly and trustworthy and has an efficient delivery service.

    Sa Sa and JD.com say they share a common mission to provide consumers with the best shopping experience, which put the two parties together in forming this partnership.

    Dr Guy Look, CFO & executive director of Sa Sa, said: “By launching a flagship store on JD Worldwide, sasa.com will expand its customer reach in China, while over a hundred million JD users will be able to enjoy direct access to Sa Sa’s wide selection of globally renowned cosmetic and skincare brands.

    “We believe that the strengths of Sa Sa and JD will complement each other to realise synergies in this win-win partnership. We are looking forward to working with them to deliver a premium online shopping experience to customers throughout China.”

  • Tag Heuer teams with JD.com

    Tag Heuer teams with JD.com

    Tag Heuer, the Swiss luxury watchmaker, has chosen to partner with JD.com to open its first online store in China.

    The exclusive partnership will see Tag Heuer open an online flagship on JD.com’s Marketplace platform.

    The store will offer product lines specially selected for China’s increasingly sophisticated online consumers, featuring cutting-edge designs across multiple price points. The store will also feature a 360-degree “virtual” product display where consumers can experience products prior to purchasing.

    JD.com says its support in brand marketing, logistics, payment and after-sales service will help ensure customers enjoy a first-rate online shopping experience.

    “JD.com’s reputation for product authenticity and unparalleled customer experience make it the ideal eCommerce partner in China for Tag Heuer, one of Switzerland’s most iconic and trusted brands,” said Tag Heuer’s GM of Greater China, Leo Poon.

    “The coming of age of China’s young consumers, combined with the explosive development of e-commerce, present an enormously exciting opportunity for innovation and growth. By deepening our access to our key target customer market in China through JD.com’s huge upwardly mobile user base, I am confident that this partnership will ignite unprecedented consumer interest in Tag Heuer’s premier luxury timepieces.”

    To mark the opening, Tag Heuer will launch sales of its “Tag Heuer Formula One Women GEM special edition” wristwatch in the Chinese market for a limited time exclusively on the JD.com platform.

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  • Beauty e-tailer JD.com plows ahead with strengthening its Asia reach

    Beauty e-tailer JD.com plows ahead with strengthening its Asia reach

    The Hong Kong office is intended to help JD.com expand its local market presence and warehousing capabilities, enabling it to better engage with brands and retailers across Singapore and major Southeast Asian markets, who are looking to tap the online retailer’s 118 million active users in Mainland China.

    The company plans to employ a team there to focus on targeting and attracting new retail partners from around the region.

    “We have seen rapid growth in demand from our customers for Asian brands and products, and from leading brands and retailers across the region who want to reach our huge base of upwardly mobile customers,” says JD.com’s chief human resources officer, Rain Long. 

    “This new office will expand our ability to attract and service brands from around the region, and ultimately to ensure that we continue to bring our customers the most exciting and diverse selection of international products.”

    To help with warehousing, customs clearance and shipping services from Hong Kong to Mainland China, JD.com has teamed up with logistics provider, Cosco Logistics.

    “This partnership gives our customers easy access to more of the best Asian and international products, and allows more regional and global retailers to target our unrivaled base of Chinese consumers directly from Hong Kong,” said Carol Fung, Vice President of JD.com.

    Sa Sa also jumps on board..

    As part of its efforts in Hong Kong, JD.com also announced that Asian cosmetics retailer Sa Sa will launch a flagship store on its platform offering a range of international cosmetics brands and products available online in China.

    It will be synchronized with the company’s global ecommerce portal, Sasa.com, to ensure that JD.com’s customers have easy and immediate access to the full range of products available on Sa Sa’s global site.

    “We’re excited to partner with JD.com and to give Chinese consumers more extensive access than ever before to Sa Sa’s huge selection of globally renowned cosmetics brands. JD.com has an unmatched reputation for guaranteeing quality, convenience, and service, and we’re looking forward to working with them to deliver a premium online shopping experience to consumers throughout China,” said Sa Sa Chief Financial Officer, Dr. Guy Look.

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