SHANGHAI, Feb. 22, 2019 /PRNewswire/ -- Fosun Fashion Group, today announced the establishment of Fosun Fashion Brand Management Company (FFBM), a pure play operation company serves brands with ambitions to expand in the Greater China market.
FFBM provides brands with full management services including retail and wholesale operations, merchandizing, marketing and communication management, human capital and complete back office support. With on average over 15 years of operational experience in China, the FFBM team has successfully grown a number of fashion brands in China over the past two decades.
"We are excited about FFBM, this is a major milestone for us at this critical stage in FFG's development as we continue to expand our in-house operating capabilities," said Joann Cheng, Chairman of Fosun Fashion Group. "The FFBM team brings a comprehensive set of operational experience span across retail and digital in fashion, which will be invaluable as we enter this new phase of execution. This new platform provides FFG with a wider scope of competencies, and allow us to maximize control over brands' performance in our own backyard enabling us to create incremental value for brands outside of their home markets."
"I am thrilled to be embarking on this new journey!" said James Chen, Chief Executive Officer of FFBM. "In recent years, China has become one of the core markets for many brands, and it will continue to thrive to become one of world's top consumer markets. Having lived and worked in China for the last 20 plus years, I am excited, now more than ever for the vision of Fosun Fashion Group as well as the fashion landscape in China."
Mr. Chen is the founder of UCCAL Fashion Group, prior to FFBM, he acted as the CEO of UCCAL, which was acquired by Li & Fung in 2014. Under UCCAL, he managed and developed over 700 mono brand stores across China, serving brands such as Roberto Cavalli, A. Testoni, Isaia, St. John, M Missoni and Porsche Design.
About Fosun: Fosun International Limited is a family-focused multinational company that has been listed on the main board of the Hong Kong Stock Exchange (00656:HK) since 2007. Founded in 1992, Fosun's total assets exceed RMB560 billion (c.US$85 billion). With its roots in China, and through technology and innovation, Fosun's mission is to create customer-to-maker (C2M) ecosystems in health, happiness and wealth, providing high-quality products and services for families around the world.
About Fosun Fashion Group: The Fosun Fashion Group was created to manage Fosun's current portfolio of fashion assets including St John Knits, Caruso, and Tom Tailor, as well as invest in additional global flagship brands to leverage the momentum in the Chinese consumer market. The Fosun Fashion Group team is comprised of operating and investment professionals with vast experience investing in and operating multinational brands. The Fosun Fashion Group believes that long-term value can be created through a variety of strategic initiatives, including brand building, new product development, strategic alliances, entry into new channels and marketing.
