Authentic Brands Group signs deal for Hunter in China
Authentic Brands Group has announced a new partnership with Chinese ecommerce firm Baozan in which the latter has acquired a 51% interest in Hunter’s intellectual property across South East Asia and Greater China.
Through the newly formed Authentic subsidiary ABG Hunter LLC, Baozun and Authentic have entered a joint venture for the brand in the region.
Jamie Salter, founder, chairman and chief executive of Authentic Brands, said: “This strategic move is in line with our strategy to think global and act local. By partnering with Baozun, a leader in digital and ecommerce experiences in China and Southeast Asia, we are able to combine our expertise in brand management with their deep understanding of the local market nuances and cultural trends.”
Authentic Brands and Baozun have also entered an exclusive, long-term license agreement through which Baozun will design, manufacture, market and distribute Hunter branded products in Greater China.
Vincent Qiu, chairman and chief executive of Baozun, added: “This marks another milestone in our transformation where all three business lines will cooperate together to deliver an extraordinary suite of services to leading global brand companies in China and other Asian markets.”
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