Fosun offshoot to help brands launch in China
Hong Kong-listed Chinese trading group Fosun has launched Fosun Fashion Brand Management Company (FFBM) to serve brands with ambitions to expand in the Greater China market.
The new firm is offering full brand management services, covering retail and wholesale operations, merchandising, marketing and communications management, human resources and complete back office support. With an average of more than 15 years of operational experience in China, the FFBM team has successfully grown a number of fashion brands in China over the past two decades.
“We are excited about FFBM. This is a major milestone for us at this critical stage in FFG’s development as we continue to expand our in-house operating capabilities,” said Joann Cheng, Fosun Fashion Group’s chairman. “The FFBM team brings a comprehensive set of operational experience spanning retail and digital in fashion, which will be invaluable as we enter this new phase of execution. This new platform provides FFG with a wider scope of competencies, and allow us to maximise control over brands’ performance in our own backyard enabling us to create incremental value for brands outside of their home markets.”
FFBM’s CEO James Chen said that in recent years, China has become one of the core markets for many brands, and it will continue to thrive to become one of world’s top consumer markets.
“Having lived and worked in China for the last 20 plus years, I am excited, now more than ever for the vision of Fosun Fashion Group as well as the fashion landscape in China.”
The news comes less than a week after Fosun’s announcement of a takeover bid for German-listed fashion retailer Tom Tailor.