Sequential Brands signs deal for Chinese market
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Sequential Brands Group has signed a multi-year deal that will take its Avia sports shoes to Greater China.
Its agreement with Beiying Sports Technology, a manufacturer and distributor, involves the companies developing and distributing men’s, women’s and children’s footwear, apparel and accessories. The new collection will launch this year across all retail channels.
Beiying also plans to open Avia stores, including flagship outlets in key metropolitan Chinese cities, over the next few years.
China is an important market with its growing sports industry, says Sequential’s active division president Eddie Esses.
“With a rich heritage since 1979, the brand resonates extremely well with the Chinese consumer,” says Beiying MD Jinzhang Lin.
Advisory group Symphony Investment Partners, helped the US group with the transaction.
Based in Fujian Province, Beiying is a subsidiary of the industrial group Hengchong.
Questions & Answers
Q.Which specific product lines will be developed and distributed in China as part of this deal?
Which specific product lines will be developed and distributed in China as part of this deal?
The agreement includes the development and distribution of men’s, women’s and children’s footwear, apparel, and accessories. These new collections will be launched across all retail channels this year.
Q.What are Beiying Sports Technology's plans for physical retail presence for the Avia brand?
What are Beiying Sports Technology's plans for physical retail presence for the Avia brand?
Beiying Sports Technology intends to open Avia stores, including flagship outlets, in key metropolitan Chinese cities. This expansion is planned to occur over the next few years.
Q.Which company assisted Sequential Brands Group with finalising this transaction?
Which company assisted Sequential Brands Group with finalising this transaction?
The advisory group Symphony Investment Partners provided assistance to Sequential Brands Group, a US-based company, with the transaction. They helped facilitate the multi-year deal for the Chinese market.
Q.What is the background of Beiying Sports Technology, Sequential Brands Group's new partner?
What is the background of Beiying Sports Technology, Sequential Brands Group's new partner?
Beiying Sports Technology is described as a manufacturer and distributor based in Fujian Province. It operates as a subsidiary of the larger industrial group, Hengchong.
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