Anne Klein Headed to China Via Deal Between WHP Global and 7GEGE
WHP Global, a brand management firm, has forged a 30-year partnership with 7GEGE, a Chinese digital fashion group to market and distribute the Anne Klein brand in China across all distribution channels.
The Chinese brand launch takes place this fall with a digital-first strategy. The products will be a mix of Anne Klein’s licensed products and 7GEGE’s sourced merchandise.
“We are excited about this partnership because Anne Klein is a globally celebrated women’s fashion brand with tremendous opportunity in China,” said Louise Cao, chief executive officer of 7GEGE. “We intend on fully leveraging our product, marketing and digital capabilities to build a big business together with WHP.”
Yehuda Shmidman, chairman and ceo of WHP Global, said, “We are looking forward to partnering with 7GEGE as we focus on the expansion of Anne Klein’s reach through both international and digital channels.” He said his company spent extensive time with Cao and her team in Hangzhou, China, “giving us the chance to see firsthand that 7GEGE is the perfect partner to reach millions of consumers in one of the fastest growing global fashion markets.”
As reported, in July, WHP Global started a brand management platform led by Shmidman and backed by a $200 million equity commitment from Funds managed by Oaktree Capital Management. The company’s first acquisition was Anne Klein, bought from Premier Brands for an undisclosed sum.
Anne Klein generates more than $700 million in global retail sales, with partners such as Steve Madden for footwear and handbags; Kasper Group for sportswear; E. Gluck for watches; Herman Kay for outerwear; Komar for loungewear; Marchon for eyewear, and The Jewelry Group for jewelry.
Founded in 2009, 7GEGE was known as the fastest-growing Taobao store from 2009 to 2011, and in 2011 received an investment from Legend Capital, which is a leading partner with Alibaba.
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