Additionally, kate spade new york will reacquire its existing kate spade new york business in mainland China from Globalluxe Limited this year, as well as its businesses in Southeast Asia in 2014. Globalluxe will continue driving kate spade new york's business in Southeast Asia until 2014.
kate spade new york first entered greater China and Southeast Asia in 2001 through a distribution agreement with Globalluxe Limited.
The joint venture will operate under the trade name kate spade china for an initial 10 year period that begins June 1. The new venture will build on the brand's existing footprint with plans to grow to nearly 300 points of distribution by 2020.
"International markets, and mainland China in particular, are key areas of focus for all of our direct brands and potentially huge drivers of growth going forward," says William l. McComb, chief executive officer of Liz Claiborne. "We have chosen the E.Land Group as a partner because of their significant and far-reaching infrastructure of branch offices throughout mainland China -- and for their savvy treatment and management of brands. They are outstanding merchants and operators."
"We are very excited to be partnering with kate spade new york on kate spade china,"says Jae hung Ahn of E.Land. "We believe that the synergy between kate spade new york's brand aesthetic and E.Land's expertise in China will be very successful in penetrating the luxury market in this region."