Global Brands sells off North American licensing - sportstextiles: Lea SportsTextiles

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Global Brands sells off North American licensing business

28/06/2018
Hong-Kong based apparel and footwear group Global Brands has agreed to sell the majority of its North American licensing business to US group Differential Brands for $1.38 billion. 

Global Brands Group started life as a subsidiary of sourcing and supply chain group Li & Fung. It was spun off in 2014 and has been listed as an independent company on the Hong Kong Stock Exchange since then.

Its North American licensing business includes licensed brands such as Calvin Klein, Under Armour, Tommy Hilfiger, Michael Kors and Kenneth Cole. 

Following the acquisition, Differential Brands expects its annual revenues to surpass $2.3 billion. 

For its part, Global Brands still has its footwear business and all its licensing businesses in Europe and Asia. 

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