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EVISU Buys Back the Retailing Rights in China for US$40 Million
HONG KONG, Dec. 14, 2016 /PRNewswire/ -- Japanese premium denim brand EVISU Group Limited is delighted to announce the buy-back of the retailing and franchising rights for the China market today.
EVISU Group Limited, the parent company, has reinvested alongside Cassia Investments, a consumer-focused private equity fund, to buy back the interest from New Elegant Trading (Shanghai) Co. Ltd, the joint venture partner in China financially supported by IDG Capital. Acquisition consideration is US$40 Million. David Pun, Chairman and CEO of EVISU Group Limited, will remain the majority shareholder.
David Pun expressed his excitement about this latest development, "The company made concerted efforts with its China joint venture partner over the past few years to establish brand awareness and secure a footing in China. We think this is an ideal time for the company to integrate its regional China business with headquarters to pursuit the brand's global objectives in the coming years."
In the meantime, EVISU is seeking business expansion globally by forging distribution partnerships for the U.S. and Europe markets. The brand will step up product extensions like EVISUKURO, the latest athleisure collection, and maintain product exclusivity through focused management of wholesale distributors.
EVISU operates more than 150 points of sales as well as an online platform EVISU.com to serve customers worldwide. When EVISU was founded in 1991, it gained recognition in the international denim world with its Japanese selvedge denims with hand-painted seagull logos on the back pockets. Today, the brand has become a lifestyle brand that offers a wide range of product includes jeans, tees, shirts, sweats and knits for men and women, underwear and eyewear, etc.
The EVISU product portfolio is divided into different collections. The main line, EVISU Evergreen is a premium Japanese heritage denim collection that stands above trends. EVISUKURO, the trend-oriented line, is a fusion of fashion and athleisure that goes beyond denim. Complementing them are the made-in-Japan premium line EVISU Private Stock and the made-to-order EVISU Bespoke.
For inquiries, please contact:
SENIOR MARKETING MANAGER
EVISU Group Limited
+852- 2913 2010
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SOURCE Evisu Group Limited
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