Hong Kong-based Global Brands Group Holding Limited said Thursday it has renewed and expanded its licensing arrangement with Disney Consumer Products.
Global Brands, a newly created spin-off of sourcing giant Li & Fung Ltd., said it will extend its Disney-licensed children's sleepwear business for a two year period starting Jan. 1. The agreements cover the Disney, Marvel and Star Wars brands and include distribution to retailers in the United States and U.S. retailers with a presence in Canada, Global Brands said.
Global Brands has a portfolio of more than 350 brands of which 80 percent are licensed brands in which the company enters into 2 to 8 year licensing arrangements. The remainder are "controlled" brands that are either owned outright by the company or under a long-term agreement of at least 10 years. The controlled brands portfolio is fairly new, added on in the last 5 years. Brands in the portfolio include Frye, Spyder, licensed characters from Disney, Coach, Juicy Couture and Calvin Klein.
Global Brands made a disappointing debut on the Hong Kong Stock Exchange in July, with its shares shedding nearly 14 percent of their value in their first day of trade. They currently trade at around 1.94 Hong Kong dollars, or $0.25, per share. That is still below their debut price of 2.09 Hong Kong dollars, or $0.27 per share.
Both Li & Fung and Global Brands are due to report first-half results Aug. 21.
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