LONDON — Ellassay Group has revealed a joint venture with British label Self-Portrait. Ellassay will invest 30 million renminbi, or $4.2 million, into the contemporary label and together they will operate and manage the brand’s Chinese assets.
Last month, Self-Portrait’s founder Han Chong told WWD that the company was in talks with several interested Chinese parties and was hoping to make a deal soon.
“China moves so fast, in order to catch up with that, having a good partner is crucial. Despite me being Malaysian Chinese, it’s still very hard for me to navigate the way, the speed and the culture of Chinese doing business,” Chong said.
Ellassay Group’s stable includes fashion labels Vivienne Tam, Iro and Jean Paul Knott.
In a statement released by the group, Ellassay said the investment will allow it to “enrich [Self-Portrait’s] high-end brand lineup and provide unique products and services for its mainland Chinese consumer.”
Adding Self-Portrait into its portfolio will also allow the company to be more competitive as a high-end fashion brand group.