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| Both Parties together with Baozun and Other Strategic Partners will Capitalize Jointly on Emerging Demand for Luxury brands in China |
HONG KONG, Apr 28, 2021 - (ACN Newswire) - A provider of integrated marketing solutions in Greater China, Activation Group Holdings Limited ("Activation" or the "Company", collectively, the "Group", HKEX: 9919.HK) today announced a strategic alliance with Fosun Fashion Group (Cayman) Limited ("Fosun Fashion Group" or "FFG"), a subsidiary of Fosun International Limited (HKEX: 00656.HK), to capitalize on the emerging demand for luxury brands in China.
FFG manages a portfolio of heritage brands covering a full spectrum of fashion luxury categories, and it is one of the first movers to create a global luxury fashion group in China. FFG's current brand portfolio includes Lanvin, Wolford, St. John and Caruso. The consortium aims to serve the ever-changing global luxury market by developing a top-tier ecosystem to promote additional operational value in China. To create such unique fashion ecosystem, FFG has also allied, apart from Activation Group, with leaders along the fashion value chain, such as Baozun Inc. (NASDAQ: BZUN and HKEX: 9991), a leader and a pioneer in China's brand e-commerce service industry, and other seasoned industry players that can bring different strategic values in their respective fields to this ecosystem.
The alliance shares a belief in the China market being one of the brightest spots in the global luxury market, with prospects for exponential growth, together with a faith in the critical importance of China's e-commerce and consumer expectation on global brands. The strategic alliance will work together to develop best practices and best results for FFG's existing brands in China, while exploring opportunities to introduce new brands to the China market. Activation will become a minority shareholder in FFG, and become the preferred one-stop platform for all brands in FFG's portfolio, as well as FFG's preferred partner in exploring new business models and solutions for brand expansion.
Mr. Steve Lau Kam Yiu, Joint-chairman and Chief Executive Officer of Activation, said: "We are truly excited to become part of this strategic alliance in the luxury fashion arena. Over the past year, we have seen that China's market was leading the recovery of the luxury goods economy. With the revival of China's consumption and demand for diversified fashion products, Chinese consumers are now going for high-quality products, services, and unique experiences. Over the years, the Activation Group has been helping international luxury brands to engage Chinese customers and keep them abreast of the latest trends in China. We are pleased to have partnered with Fosun Fashion Group which also shares the same commitment to help fashion brands smartly leverage their DNA and knowhow so they achieve sustainable growth. We believe our rich experience and expertise in providing comprehensive sales and marketing solutions can add value and create more business opportunities for this strategic alliance and assist brands under the Fosun Fashion Group to successfully penetrate the China market and eventually become a leader in the fashion trend.
"As the global landscape of digitalization changes, there is no doubt that it is changing faster in China than in any other market," Joann Cheng, Chairman of FFG said. She added, "We made a strategic decision to form this consortium through a capital transaction so we can leverage the operational experience our partners have acquired over the years. Activation Group has been one of the top players in the market for years as it focuses on creativity and technology to connect offline consumers with the big data system and to provide luxury clients with a one-stop integrated online and offline marketing solutions. It is one of the very few companies in China with an international perspective while it specializes on satisfying the needs of the local market. We believe this strategic alliance is the first step in a deeper and broader long-term relationship with Activation Group and others, while continuing a successful journey with our brand partners in China."
About Activation Group Holdings Limited
Activation Group Holdings Limited is a leading and fast-growing integrated marketing solutions provider and brands and international IPs operator that focuses on the provision of experiential marketing, digital and brand communication, and public relations services which mainly operates in Greater China. The shares of the Company were listed on the Main Board of The Stock Exchange of Hong Kong Limited on 16 January 2020. The Group also focused on tapping into the sports and entertainment IP development sector. Since 2016, the Group has started its IP development business for sports market where the Group entered into cooperation agreements with each of LaLiga and Amaury Sport Organisation for granting the Group exclusive rights to organise authorised events with LaLiga Club brand and Le Tour de France brand and other rights for marketing, sponsorship, merchandising and other uses in the PRC. In 2017, the Group also established Stufish Asia Limited with Stufish Productions Limited tap into the entertainment IP development business.
About Fosun Fashion Group (FFG)
Launched in 2017 and based in Shanghai, China, FFG is a multi-disciplinary industry platform under Fosun International Limited that focuses on in-depth operations and strategic investments in luxury fashion. Rooted in China with a global vision, FFG is able to provide the complete solution for brands' sustainable growth. FFG believes that long-term value can be created through a variety of strategic initiatives. These include brand building, talent recruiting, product development, strategic alliances, channel expansion, digitalization, as well as full-spectrum local operation provided through its China operation arm, Fosun Fashion Brand Management (FFBM). Through its unique approach and position, FFG looks to create and connect cross-border communities, empower talent and drive growth. FFG's current brand portfolio includes Lanvin, Wolford, St. John and Caruso. For more information, please visit http://fashion.fosun.com/.
Topic: Press release summary
Source: Activation Group Holdings Limited
Sectors: Daily Finance
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From the Asia Corporate News Network
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