MILAN, Nov. 15 (Class Editori) -- Moschino, subsidiary of AEFFE has signed a letter of intent and is defining an agreement whereby, with effect from June 2022, the company will assume the management of Moschino's stores in Mainland China, currently operated by Scienward Fashion and Luxury (Shanghai) Co. Ltd., a leading fashion brand management Group in China.
As explained in a note, Moschino's direct entry into the Chinese market comes through an agreed and shared transition with long-time local partner Scienward Fashion and Luxury (Shanghai) Co. Ltd., after more than 10 years of collaboration.
"The take-over operation of Moschino distribution in Mainland China is another pillar of Moschino's repositioning strategy that follows the total acquisition of the brand announced in last July. We are now able to manage the entire brand value chain, from product to quality, from distribution to communication," Massimo Ferretti, Executive Chairman of the Group, commented.
"The direct management of the distribution in Mainland China, given the importance of this market, will permit us to accurately control the brand image, provide an attentive customer service and, above all, to accelerate the commercial penetration based on a development plan that includes new openings and the strengthening of the travel retail business," Ferretti stated, adding that "we would also like to express our appreciation to Scienward Fashion and Luxury (Shanghai) Co. Ltd. for its effective and esteemed effort in developing the market over the past years which has laid a solid foundation for the brand".
(Source:Class Editori)
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