NEW KIDS ON THE BLOCK: Fung Kids Investments is to take control of the Petit Bateau brand in the Hong Kong and Singapore markets.
Fung Kids, a subsidiary of privately held Fung Retailing Limited within the Fung Group, said it is to acquire Kids Designers Club (HK) Limited and Kids Designers Club Pte. Limited from ImaginAsia Group (HK).
Kids Designers Club is exclusive retailer in Hong Kong and Singapore of baby’s and children’s apparel by Petit Bateau, a French brand founded in 1893 and known primarily for its knitwear.
Fung Retailing said the transaction propels its strategy to expand its portfolio of baby and children brands in Asia, also touting “significant synergies within its existing retail business” in Greater China and Southeast Asia.
Fung Kids already controls distribution rights for Petit Bateau’s baby’s and children’s apparel in Mainland China.