South Korean fashion retailer Shinwon Corp has launched a joint menswear brand with China’s Golden Eagle Retail Group in a move to advance into China.
It is the first such move by a Korean fashion company.
Shinwon says the new brand, Mark M, is available in department stores owned by Golden Eagle Retail Group including its Nanjing Xianlin, Nanjing Xinjiekou and Shanghai stores. The group has 30 department stores in major cities.
Mark M is a casual brand targeting young men born between 1980 and 1989, known as “baling hou” or the “post 1980s” generation in China. Shinwon is responsible for the brand’s design and marketing, with Golden Eagle Retail Group handling distribution. The two companies are expected to seek an IPO in Hong Kong for the joint venture.
Meanwhile, the two companies plan to expand their partnership to include other industries such as F&B to become a comprehensive lifestyle service provider in the long term.