Liu Jo store in Russia
17 Sep. 2013
Liu Jo signs alliance with China Resources TextilesTo boost its retail development policy in China, Liu Jo has signed an agreement with China Resources Textiles, a company operating under China Resources Holdings (ranked 187TH in 2013 Fortune 500).
The strategic agreement has the form of a Master Franchise Agreement connected with a very ambitious development plan, which will foster the Liu Jo mono-brand retail business in the Chinese market for up to 200 stores over 5 years. Moreover, the process includes a number of intermediate steps which could further strengthen this alliance.
China Resources Textiles is one of the most important players in the Chinese textile and fashion retail industry, holding over twenty fashion companies (ranging from manufacturing and production to business development and distribution) and 800 stores; it is the sole agent of the brand Calvin Klein in China following the Group’s success in its joint venture with Esprit, and partnerships with Alfred Dunhill, Kenzo, Givenchy, Calvin Klein Jeans, etc.
Liu Jo has been operating in the People’s Republic of China since 2002, first with an exclusive distributor and then, in 2008, through the subsidiary Liu Jo China. Today, Liu Jo’s retail presence in China consists of 46 mono-brand stores and six outlets.
“I am very proud of the successful agreement with such a relevant partner, and I am confident that this is a strategic move for Liu Jo in its global operations. I would like to personally thank China Resources Textile, for they immediately believed in our brand and the potential of this operation, as well as anyone else who contributed to its success.” stated Marco Marchi, vice president and owner, with his brother Vannis, of Liu Jo S.p.A.
“We are very pleased to partner with a strong and well-respected organization like Liu Jo. We believe that the strategic alliance is a win-win arrangement under which both parties can leverage their own expertise to build a meaningful business for this iconic, global brand.” Commented C.C. Wang, chairman, China Resources Textiles.
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