Capital and Business Alliance with PPW Hong Kong
April 18, 2023
ITOCHU Corporation (Headquarter: Minato-ku, Tokyo, President and COO: Keita Ishii, hereinafter referred to as "ITOCHU") has established a subsidiary, ITOCHU Textile Prominent (ASIA) Ltd. (Headquarter: Hong Kong Special Administrative Region, CEO: Hiroshi Morita), hereinafter "IPA"), that has formed a capital and business alliance with PPW Sports & Entertainment (HK) Limited (Headquarter: Hong Kong Special Administrative Region, CEO: Mr. Ivan Chan, hereinafter "PPW"). Together with PPW, we aim to further expand our brand business in the East Asian market.
PPW Group, founded in 1992, is a well-known brand facilitator possessing over decades of solid experience in brand management, market development, strategy planning, licensing, promotion and distribution. PPW started the business as a full-service promotional marketing agency with its own manufacturing facility. PPW now focuses on leveraging its brand management strength while investing in strategic verticals to produce record-breaking results. PPW specializes in curating brands and partner portfolios to maximize these verticals to become a holistic IP ecosystem. Its strength in realizing the full potential of the world’s best creators and brands is indisputable. Currently, PPW is representing more than 80 brands and contents.
ITOCHU and PPW have long built a business relationship, including the joint development of cosmetic brands and the licensing of character contents. In addition, we have established a joint venture Hug-B Holding Ltd. with PPW to develop intellectual education and childcare-related business in the Chinese market, and a joint venture Rights & Brands Asia Ltd. to develop animation and character licensing business in the Asian market. In particular, in the collaboration in the Chinese market for OUTDOOR PRODUCTS, for which IPA holds the master license rights in Asia, we are actively setting up stores even during the peak of COVID-19 pandemic (43 stores nationwide as of March 31 2023). We will also be setting up a flagship store in Beijing during the 50th anniversary of the brand in April 2023, and aim for sales of 10 billion yen in 2028, we are continuously building a good partnership.
ITOCHU Corporation has set "business transformation through 'marketization'" as one of the basic policies of its medium-term management plan, "Brand-new Deal 2023." Going forward, through a capital and business alliance with PPW, which has diverse knowledge and networks in the ever-growing East Asian market, we will accelerate brand development based on the ever-changing needs of consumers, thereby further strengthening our revenue base.
・Company name : PPW Sports & Entertainment (HK) Limited
・Representative name : Mr. Ivan Chan
・Head office location : 21/F, Cornell Centre, 50 Wing Tai Road, Chai Wan, Hong Kong
・PPW Group established in 1992
・Website : https://www.ppwlicensing.com