Fosun Fashion Group Limited (FFG) has joined hands in a strategic alliance with China-based integrated marketing solutions Baozun Inc. to boost and capitalize on emerging demand for luxury brands in China.
The strategic alliance will focus on introducing new brands to the Chinese market and work towards developing best practices and results for FFG’s current brands in China.
FFG, one of the initial movers to create a global luxury fashion group in China, works in managing a portfolio of heritage brands, which includes fashion luxury categories. The alliance aims at drawing attention towards the dynamic global luxury market by developing a top-tier ecosystem to promote additional value in China.
In a statement, the Chairman of FFG, Joann Cheng stated that the decision for the consortium through a capital transaction is to leverage the operational experience for their partners. Baozun’s leadership in providing technology-empowered infrastructure has been impressive, Joann added.
The alliance consists of other players like supply chain and retail partners.
Chief executive of Baozun and chairman, Mr. Vincent Qiu commented on the alliance, saying that China is on its way to becoming the main growth driver of the international luxury market. Baozun’s unique position in the Fashion sector will bring added value to their brand partners, he added.