Hong Kong listed attire retailer Dickson Ideas says it won’t be renewing its licence to promote the US menswear model Brooks Brothers.
Dickson, which has the licence for Hong Kong, Macau, China and “different designated territories in Asia” says the choice was reached “by mutual settlement”.
Brooks Brothers Worldwide will enter into an settlement with Dickson to purchase the belongings and pay an quantity for goodwill when the licence expires on December 31.
In a press release to the inventory trade Dickson stated it is going to “proceed the event of its different luxurious model identify companies and actively search new funding alternatives to additional improve its robust income and revenue streams”.
Brooks Brothers has had a troublesome time gaining momentum in worldwide markets. The corporate is understood to be in discussions with Oroton Group over the way forward for its licence for Australia the place the model has did not ship revenue for the listed Australian retailer.
