Shinwon Corp., South Korea’s leading fashion retailer, said on Monday that it has launched a joint menswear brand with China’s Golden Eagle Retail Group Ltd. in a move to advance into the flourishing fashion industry in China. Shinwon is the first among Korean fashion companies to collaborate with a Chinese retailer to launch a joint brand.
According to the company, the new menswear brand - Mark M - opened at department stores owned by Golden Eagle Retail Group including its Nanjing Xinjiekou, Nanjing Xianlin, and Shanghai stores. Golden Eagle Retail Group operates 30 department stores in major cities in China.
Mark M is a casual menswear brand that targets young consumers born between 1980 and 1989, also known as "baling hou" or "post 1980s" generation in China. Shinwon is responsible for the brand’s design and marketing, and Golden Eagle Retail Group local distribution. The two companies are expected to seek an initial public offering of the joint venture in Hong Kong.
Shinwon and Golden Eagle Retail Group, meanwhile, plan to expand partnership to include other industries such as food and beverages to become a comprehensive lifestyle service provider in the long term.
Shares of Shinwon ended Monday at 1,780 won ($1.6), up 5 won or 0.28 percent from the previous trading session.
By Kang Da-young and Lee Eun-joo
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