Thirty brands/designers likely to enter Chinese fashion market
06 Dec '06
1 min read
ASAP Show Inc announces a chance for U.S., Canadian, and European fashion brands and designers to license their properties in China.
After hosting consecutive FITS events, currently the only international brand licensing show in China, ASAP successfully negotiated a licensing deal for 30 brands.
ASAP was approached by the Wuxi New World Group to find 30 brands or designers to open prototype stores or showrooms in its International Textile and Fashion Mega-Mall ("ITFM"), which is the world's largest textile and clothing distributing center with 13 million square feet of floor space.
Frank Yuan, CEO of ASAP, stated, "This exciting and fantastic deal with ITFM will help international fashion designers and brands immediately enter the China market." Yuan added, "ITFM, the master licensee, guarantees minimum per annum royalty fees of $60,000 for the first year and annual increase up to $130,000 for the fifth year."
Yuan also added, "ITFM will pay for all the costs associated with store decoration, 3 airfare, all domestic travel, and hotel expenses to supervise the store construction and to see the grand opening of the store."
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