Authentic Brands Group has created ABG Hunter LLC, and sold a 51 percent stake in the newly formed subsidiary for the Greater China and Southeast Asia region to Baozun Inc. A price was not disclosed.
Under the terms of the deal, Baozun has acquired the rights to Hunter’s intellectual property across all the regions in that area.
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In addition, Authentic and Baozun have entered an exclusive, long-term licensing agreement under which Baozun will design, manufacture, market and distribute Hunter brand products in Greater China. The license agreement will be assigned by ABG Hunter LLC to Hunter IP Holdco as the licensor across the region.
“We are thrilled to partner with Baozun to grow Hunter in this important region,” said Jamie Salter, founder, chairman and chief executive officer of Authentic. “This strategic move is in line with our strategy to think global and act local. By partnering with Baozun, a leader in digital and e-commerce 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 CEO 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.” Baozun is segmented into three major business segments: e-commerce, brand management and international.
In June, Authentic bought Hunter, a British heritage brand best known for its Original Wellington boot, in a deal believed to have been valued at $125 million. At that time, it created a partnership with The Batra Group, a U.K.-based product development, design, sourcing and distribution firm, to become the core licensee for the U.K. and continental Europe. It also signed Marc Fisher Footwear to be Hunter’s core partner in the U.S.
Hunter is 160 years old and over the years has evolved from a rubber boot to a lifestyle brand offering a wide footwear collection as well as outerwear, bags and accessories designed for outdoor performance in rural and urban environments.
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