Japanese premium denim brand EVISU has recently made a US$40 million buy-back of its China retailing and franchising rights.
The transaction was carried out by the parent company, EVISU Group Limited with the support of Hong Kong-based Cassia Investments, a consumer-focused PE fund.
Both companies have reinvested a consumer-focused private equity fund, to buy back the interest from EVISU’s joint venture partner in China, New Elegant Trading (Shanghai) Co. Ltd which is financially supported by IDG Capital Partners.
David Pun, chairman and chief executive officer of EVISU Group Limited, will remain the majority shareholder.
“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,” explains David.
Sixteen years through EVISU’s franchise partnership with New Elegant Trading has successfully forged a brand awareness 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,” he adds.
Hence, EVISU will now be actively seeking global business expansion 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.
Founded in 1991 in Japan, EVISU has become a high-end lifestyle brand, offering a range of products which include jeans, t-shirts, sweaters, knitwear, and glasses for both genders.
Some of the brand’s most iconic denim collections include the series with tattoo-designed graphics. Products of EVISU are sold online at EVISU.com and in more than 150 stores located in 14 countries which include Australia, China, Hong Kong, United Kingdom, and the United States.
By Vivian Foo, Unicorn Media
Video URL: https://www.youtube.com/watch?v=FzyZH–2Spo
This news is published on Reuters.