Authentic Brands has announced a joint venture with Baozun for Hunter in Greater China and Southeast Asia.
Through this partnership, China-based digital ecommerce group Baozun has acquired a 51% equity interest in Hunter in the region.
This follows news that, in May of this year, Baozun was among the businesses competing to take control of Hunter before Authentic Brands acquired it the following month.
In addition, the two companies have entered into an exclusive, long-term licence agreement, which will see Baozun design, manufacture, market and distribute Hunter-branded products in Greater China.
The licence agreement will be assigned by the newly-formed subsidiary ABG Hunter LLC to Hunter IP Holdco as the licensor across the region.
Jamie Salter, founder, chairman and CEO 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.”
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.”
