Rocawear Goes To China

jayz
Jay-Z, frontman for Rocawear

Following the recent news of P. Diddy’s Sean John brand’s expansion to Spain, Rocawear, a clothing brand co-founded by Jay-Z has announced its expansion to consumer markets in China. Iconix China is continuing its expansion plans with the development of its Rocawear brand in Greater China. Iconix strikes its third deal in the past year by partnering up with Bosideng International Holdings. Bosideng will be manufacturing and also acts as a distributor for Rocawear men’s and women’s products in Greater China. The company is planning to open over 300 Rocawear free-standing stores and shop-in-shop concepts within three years, starting Spring 2010.

Jay Z commented:

“When Iconix purchased the Rocawear trademark two years ago, Neil Cole and I made a commitment to building Rocawear into a global lifestyle brand. Our expansion to China is a validation of our joint efforts to bring an authentic interpretation of American fashion to young people around the world.”

Bosideng is an established apparel company in the People’s Republic of China. Its retail distribution network covers more than 65 cities in China, in 5,800 retail outlets, with six popular core brands including “Bosideng”, “Snow Flying”, “Kangbo”, “Bingjie”, “Shuangyu” and “Shangyu”. As for Rocawear itself, since its inception in 1999, the brand has been recognized internationally with annual retail sales exceeding $700 million.

Bosideng is also optimistic about the deal, as Gao Dekang, Chairman of Bosideng stated:

“Our strong retail networks promise to bring the Rocawear brand and its highly sought after designs to the Chinese customer. We are delighted to partner with Iconix China on this exciting new venture to develop the Rocawear brand.”

The cooperation comes with a high target. Iconix Brand expects $43 million in Rocawear royalty revenue in the first year. Jay-Z is in charge of product development, marketing and licensing for the brand. He will also retain his stake in the operating company that manufactures Rocawear men’s apparel.

Veronica Chou, President of Iconix China, stated:

“We are pleased to partner with Bosideng to grow the Rocawear brand in China. Bosideng is a leader in their field and we are certain in Bosideng’s ability to utilize their supply chain management and extensive distribution netwoks to quickly position Rocawear in the Chinese market.”

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