Last checked at 20 Dec 2007 07:00
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."
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For further information contact:
Tony Hutchinson 0041-794-689450
Adam Reynolds 0207-245-1100
INTERNATIONAL BRAND LICENSING PLC