Quiksilver, Sprandi International take steps for joint venture
27 Jun '06
3 min read
Outdoor sports lifestyle company Quiksilver Inc announced that, in Partnership with Sprandi International Ltd, it has created a joint venture with the exclusive rights to design, manufacture, market and distribute Quiksilver and Roxy branded products in Russia.
The joint venture will be responsible for establishing a Russian distribution network of company-owned retail stores as well as a sizeable wholesale business that will include licensed retail stores, large key accounts and small independent retail chains.
This venture, which replaces a former license and distributorship agreement, builds on the company's strategy to own and operate its business in key territories. It believes that the Russian market is increasingly vibrant and that its brands have a strong, resonant message and considerable untapped potential with Russian consumers.
The company will hold a majority stake in the joint venture, which it expects to further its reputation as one of the leading outdoor lifestyle brands in the world. Sprandi is a leading sports and outdoor lifestyle company in Russia and Eastern Europe specializing in footwear, apparel and accessories
Bernard Mariette, President of Quiksilver Inc, said, "We are very excited about this initiative, which will expand the growth opportunity for our core business. Russia's young people are increasingly linked to the global youth culture, and the market has excellent potential. The boardriding lifestyle and its ties to music and other aspects of popular western culture have begun to see a massive expansion in Russia.”
marketing@alchempro.com
