Embargoed Release: 07:00hrs, Thursday 20 December 2007
International Brand Licensing plc
("IBL")
Announces Admiral License for China
International Brand Licensing Plc ("IBL") today announces that it has entered
into a license agreement for its Admiral brand with Fortune Dragon Holdings Ltd
("Fortune") of Hong Kong. The five year agreement for the territory of the
People's Republic of China, including Hong Kong and Macau, will see the opening
of up to 200 Admiral stand alone stores and concession outlets throughout
mainland China through Fortune's retail partner, World Team Management Group
("WTM").
Tony Hutchinson, IBL's Chief Executive, comments:
"After many months of discussions with a number of prospective partners we are
delighted to have concluded this agreement with Fortune. Their extensive design
and sourcing resources combined with the proven retail expertise of WTM will
provide a powerful force to exploit the tremendous opportunities of the
emerging China market.
WTM, the exclusive retail partner of both AC Milan and Juventus Football Clubs
in China, plan to launch their first Admiral stores in a number of major cities
to coincide with the Beijing Olympic Games next summer. This agreement will
bring the first ever launch of Admiral into mainland China, and is yet another
illustration of the increasing value of the brand on a global scale."
-Ends-
For further information contact:
Tony Hutchinson 0041-794-689450
Adam Reynolds 0207-245-1100
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