NOVO Retail Group Co Founded Joint Venture With Itochu Commercial Co., Ltd.

The NOVO fashion retail group of Hongkong (hereinafter referred to as "NOVO group") has recently announced jointly with Itochu commercial Japan that the two sides have signed an agreement to establish a joint venture in mainland China to take charge of the operation and sale of Itochu's luggage brand - LeSportsac music broadcast poetry in the Chinese mainland market.

NOVO group, as LeSportsac brand in mainland China (except duty-free shops) exclusive distributor 8 years, successfully managed more than 70 shops in the country, located in the

The shops with Beijing are distributed in the famous commercial circles such as Jiu Guang Department store, new world big pill department store, Pacific department store, Beijing Yansha, Beijing Wangfujing department store and so on.

In the future, the brand will continue to grow and cooperate with Itochu and commerce. Both sides will create a strategic joint venture platform and integrate their resources with their respective professional advantages.

Brand development in China market.

The brand joint venture company announced that it will actively formulate compliance.

The franchising policy has vigorously expanded the national dealer agency business, and plans to add 100-150 new franchising shops in major cities throughout the country in 2-3 years.

At the same time, we should strengthen the integration of various channel resources, and actively carry out O2O business, so as to maximize the cooperation benefits of various channels.

Moreover, on the basis of strengthening the original DNA of the brand, we constantly innovate and upgrade the product so as to make it more competitive in the market.

The joint venture company will strive to build a new brand development management company with first-class buyer team, professional brand marketing strategy, comprehensive channel management experience, advanced supply chain management system and innovative research and design capabilities, to promote the construction of the domestic traditional retail industry chain, to create new business models, to enhance the business operation ability and to serve consumers better.

This marks NOVO as Asia's leading fashion life concept retail group, and has made important progress in leading the market and business pformation.

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Hongkong NOVO group has entered China for ten years. It has introduced nearly 1000 kinds of international clothing brands and designer brands for the more than 20 tier cities in the country. It has been growing up with the help of many industry crossover, star KOL alliance, charity art program, new youth art plan and other young people.

At the beginning of 2015, NOVO launched a more serious attack and opened up a multi-channel EC e-commerce shopping platform.

Staying indoors and taking you around the world.

Starting from Seoul, the fashion capital of Asia, thousands of hot brands, including cosmetics, men and women clothing, shoes and accessories, daily necessities, have been unveiled in WeChat mall and Tmall international flagship store.

Itochu Commercial Co., a famous Japanese enterprise, is a large comprehensive business company named "fortune" weekly as one of the top 500 in the world.

Japan, founded in 1858, has been developing for 1.5 centuries.

Now, Itochu has made about 130 strongholds in 65 countries and regions in the world (including Japan). The number of combined staff has reached 110 thousand, the annual sales reached 46 billion 500 million US dollars and the net profit reached 2 billion 600 million US dollars. It is the largest company ranked third in the Japanese comprehensive firm. It involves six sectors such as textile, machinery, metals, energy, chemicals, cereals and oils, and living materials.

Among them, the textile sector includes fiber raw materials trading, clothing and apparel products OEM production, brand management, and international brand operation business.

The brand operation is centered on Japan and Asia, and manages more than 150 famous brands in Europe and America.

Such as Lanvin, Paul Smith, Hunting World, Tumi, Converse and so on.

LeSportsac is one of the most important brands in Itochu's textile industry.

Itou Chuji started the acquisition of Asian brand ownership in 2006, and now has the right to operate the global brand business in the 40 countries of the United States and Asia.