Chinese fashion retailer, Ellassay Fashion, has invested about US$5.6 M for a 50 per cent stake in a joint venture with Canadian luxury outerwear label Nobis.
As part of the agreement, Nobis will contribute the RMB40bn-worth intellectual property of the registered trademark to the joint venture for the remaining stake. Meanwhile, Ellassay Fashion will produce and retail Nobis’ down jackets and other products in Mainland China, Hong Kong and Macau. The partnership will help Nobis further expand its presence in China, where it is only operating via a flagship store on Alibaba’s Tmall e-commerce platform.
Founded in 2007, Nobis’ products are sold in more than 35 countries and regions, with brand stores in key cities, including Toronto, Paris, and Seoul. Initially established as a womenswear brand, Ellassay Fashion’s current portfolio of brands includes Self Portrait, Laurel, and Ed Hardy.
