Sequential Brands (SQBG) Plans Expansion of AND1 Brand into China
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Sequential Brands Group, Inc. (Nasdaq: SQBG) (“Sequential” or the “Company”) announced today that it has entered into a long-term agreement with Guirenniao Co., Ltd. (“GRN”) to bring the AND1® basketball brand to China.
Under the new agreement, GRN will work closely with the Company to develop and distribute a line of men’s and boys’ basketball apparel, accessories and footwear. The collection will launch in 2017 across both traditional and digital retail channels. Standalone AND1 retail stores as well as women’s apparel and footwear is planned for 2018.
“With over 300 million people in China playing basketball and a rapidly growing interest in the sport, we see an incredible opportunity to engage with consumers in a critical market, as we look to further expand the AND1 brand globally,” said Eddie Esses, President of Sequential’s Active Division.
“We are pleased to partner with Sequential Brands Group to introduce an authentic lifestyle basketball brand like AND1 to Chinese consumers,” stated Mr. Tianfu Lin, Chairman of Guirenniao Co., Ltd. “This partnership will serve as an important milestone in the strategic growth and development of GRN as we plan to invest substantially in making AND1 a major sports brand throughout China.”
AND1® is a premier basketball footwear and apparel brand that has remained synonymous with the game of basketball and its streetball lifestyle for nearly 25 years. Today, the mission of the brand remains a never-ending quest for excellence on and off the court. AND1’s footwear, apparel and accessories can be found at select retailers around the world. For more information, visit www.and1.com.
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