Chinese menswear company Fujian Septwolves has agreed to buy distribution rights for German fashion designer Karl Lagerfeld’s brand for Rmb320m ($48m), as Chinese clothing brands attempt to upgrade their image and target more affluent consumers.
The company based in eastern China’s Fujian province will acquire an 80 per cent stake in Karl Lagerfeld Greater China Holdings (KLGCK), the owner of permanent rights to distribute the designer’s brand in mainland China, Hong Kong and Taiwan.
As part of the deal, Septwolves will inject about $12m dollars into KLGCK’s Shanghai unit which operates the stores.
您已閱讀30%（604字），剩余70%（1384字）包含更多重要信息，訂閱以繼續(xù)探索完整內(nèi)容，并享受更多專屬服務(wù)。