Jack Wolfskin to expand with China operations
Jack Wolfskin says the transaction is a "milestone" in its international expansion
As part of its ongoing expansion efforts, German outdoor clothing specialist Jack Wolfskin has revealed it will take over its China business operations from Tristate Holding.
As part of the transaction, which is due to complete by the end of March, Jack Wolfskin will take direct control of the distribution of its products in around 700 stores in China.
Jack Wolfskin plans to grow its position as a leading outdoor brand in Asia and one of the top three in China, where its store count has increased from 100 to 700 in the last four years. Tristate, meanwhile, will continue to provide consultancy and operational services to Jack Wolfskin in China, as well as renewing its Hong Kong and Macau distribution agreements.
"This transaction is a milestone in our international expansion and will allow us to focus further on the Chinese market and on the needs of our retail partners there," said CEO Melody Harris-Jensbach.
Jack Wolfskin said the transaction comes after a successful financial year. Revenues grew to EUR345m (EUR408.4m) from EUR324m a year earlier, driven by the strong development of the brand's international markets.
"We are starting into 2015 from a position of strength," Harris-Jensbach added. "While the situation in our German and Austrian home market remains challenging, we are pleased with the positive development of our international markets such as China and the UK."
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