Global Brands in talks with Alibaba, JD.com
Global Brands Group is discussing a possible “strategic alliance” with Chinese eCommerce companies Alibaba and JD.com.
The two e-tailers are declining to comment on the matter, but based on comments by Global Brands CEO Bruce Rockowitz, Bloomberg reports the alliance “could involve online sales of brand-name children’s wear, among other products, through Alibaba’s Tmall and JD.com, and co-operation offline”.
Rockowitz said a formal announcement is likely later this year.
“We are working with JD and Alibaba on a strategic alliance, joint venture,” he said. “It’s a relationship or joint venture together that can create a solution online, offline and mobile that none of us can do by ourselves.
“Both of them want to do something. They don’t have the content, just platforms, but they want to go to the next level.”
The comments came in the wake of Global Brands’ first full year results announcement earlier this week when it reported stronger margins as it continues to shed non-performing brands in favour of higher end products.
Last December, Global Brands announced a joint venture with David Beckham and his business partner Simon Fuller. The joint venture, Seven Global, focuses on the continued development of the brand around David Beckham as well as on creating large scale brands in partnership with a select number of high‐profile sports and entertainment icons. The venture will cover all major consumer product categories.