Donna Karan International and HPL-21 Holdings PTE LTD., Form Licensing Alliance
The countries covered by the agreement are: Hong Kong, Taiwan, China, The Philippines, Singapore, Malaysia, Thailand and Indonesia.
Under the agreement, HPL-21 has been granted exclusive retail rights for the Donna Karan New York, DKNY, DKNY Jeans and DKNY Active apparel products as well as certain product distribution rights. Through this new initiative, Donna Karan International will convert the majority of its existing wholesale business with HPL-21, and Club 21 Pte Ltd., a related company, into a regional royalty-based licensing business.
"We are extremely pleased to restructure our business in the Far East," stated John Idol, Chief Executive Officer of Donna Karan International. "This agreement further develops our existing relationship with HPL-21 and positions us to accelerate the growth of our brands in the Far East. B.S. and Christina Ong, the principals of HPL-21, have been instrumental in the successful launches of the Donna Karan New York and DKNY as leading brands in their respective marketplaces."
The 7-year relationship has accelerated the success of the Donna Karan New York, and DKNY brands in the Asia Pacific Region. Throughout the six-year exclusive agreement, HPL-21 has agreed to operate at least 50 freestanding boutiques and in-store concessions across all brands.
The first retail operation under this agreement was a 7,600-sq. ft flagship DKNY store, which opened in Causeway Bay, Hong Kong. This flagship store, which opened in February of this year, was modeled after the DKNY World Flagship store on Madison Avenue in New York City, which opened in August 1999.
Donna Karan International is one of the world's leading fashion design houses which designs, markets and distributes collections of women's and men's apparel, sportswear, accessories and shoes under the Donna Karan New York and DKNY brand names.
HPL-21 is part of the Hotel Properties Limited ("HPL") group of companies.
Edited by Anndrea Vorobej