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[THE INVESTOR] South Korea’s apparel group Hyungji has decided to buy PMJC, a French firm that holds a global license for products of Castelbajac, a fashion brand that designed for the late Pope John Paul II.
“The takeover deal will be completed in late September,” the Korean company’s Chairman Choi Byoung-oh said in an interview with a local paper.
The move came after Hyungji acquired the domestic and pan-Asian licensing from the French designer Jean Castelbajac in 2014 and 2015, respectively.
PMJC logs more than 2 billion won (US$1.80 million) revenue per year from the global licensing.
Hyungji launched the brand known for vivid colors and bold designs as a golfwear line last year and opened more than 150 stores.
With the deal, the Korean company seeks to promote newly launched accessory line Jean Charles de Castelbajac to become a mega brand and unveil Castelbajac Living next spring.
“We aim for a public offering of Castelbajac’s Korean unit on the Seoul stock exchange within three years with annual sales of 200 billion won and a profit margin of 10 percent,” Choi said.
By 2018, the brand plans to enter the Chinese market, he added.
By Park Han-na (hnpark@heraldcorp.com)
“The takeover deal will be completed in late September,” the Korean company’s Chairman Choi Byoung-oh said in an interview with a local paper.
The move came after Hyungji acquired the domestic and pan-Asian licensing from the French designer Jean Castelbajac in 2014 and 2015, respectively.
PMJC logs more than 2 billion won (US$1.80 million) revenue per year from the global licensing.
Hyungji launched the brand known for vivid colors and bold designs as a golfwear line last year and opened more than 150 stores.
With the deal, the Korean company seeks to promote newly launched accessory line Jean Charles de Castelbajac to become a mega brand and unveil Castelbajac Living next spring.
“We aim for a public offering of Castelbajac’s Korean unit on the Seoul stock exchange within three years with annual sales of 200 billion won and a profit margin of 10 percent,” Choi said.
By 2018, the brand plans to enter the Chinese market, he added.
By Park Han-na (hnpark@heraldcorp.com)
