NEW YORK, April 17, 2018 (GLOBE NEWSWIRE) -- Sequential Brands Group, Inc. (Nasdaq:SQBG) ("Sequential" or the "Company") announced today that it has entered into a multi-year agreement with Beiying Sports Technology Co., Ltd., a leading sports manufacturer and distributor, to bring its AVIA brand to Greater China.
Under the new agreement, Beiying will work closely with the Company to develop and distribute a line of men’s, women’s and kid’s footwear, apparel and accessories. The new collection will launch later this year across all retail channels. Beiying also plans to open AVIA stores, including flagship stores in key metropolitan Chinese cities, over the next few years.
“AVIA continues to attract consumers nationwide as one of the leading active lifestyle brands known for its pioneering technology and stylish designs. I’m excited to build on the brand’s strong momentum in the US and introduce it to the Chinese market – an important market with a growing sports industry,” said Eddie Esses, President of Sequential’s Active Division. “Together, with our new partner, the AVIA brand has the opportunity to become a major active lifestyle brand throughout China.”
"We are pleased to partner with Sequential Brands Group on AVIA, an innovative active lifestyle brand," stated Mr. Jinzhang Lin, Managing Director of Beiying. “With a rich heritage since 1979, the brand resonates extremely well with the Chinese consumer."
Symphony Investment Partners, a leading advisory group in the apparel and footwear space, assisted Sequential in the transaction.
About AVIA
Founded in 1979, AVIA came to prominence thanks to its revolutionary cantilever technology, which remains the bedrock on which performance shoes are made. Today, AVIA continues to lead the active lifestyle movement with pioneering technology and stylish design for athletic footwear, activewear, and accessories, all while bringing better value solutions for health-conscious consumers. For more information visit: www.AVIA.com.
About Sequential Brands Group, Inc.
Sequential Brands Group, Inc. (Nasdaq:SQBG) owns, promotes, markets, and licenses a portfolio of consumer brands in the home, fashion and active categories, which includes the AND1® basketball brand. Sequential seeks to ensure that its brands continue to thrive and grow by employing strong brand management, design and marketing teams. Sequential has licensed and intends to license its brands in a variety of consumer categories to retailers, wholesalers and distributors in the United States and around the world. For more information, please visit Sequential's website at: www.sequentialbrandsgroup.com. To inquire about licensing opportunities, please email: newbusiness@sbg-ny.com.
About Beiying Sports Technology
Beiying is a successful sports manufacturing, marketing and sales company located in Fujian Province, Greater China. The Company is a subsidiary of the industrial group Hengchong Co. Ltd, with over 1,300 employees in Zhejiang, China. Hengchong has been a leader in the Chinese market and through Beiying, has made a major commitment to grow its domestic athletic business with its commitment to the AVIA brand. Beiying has a state of the art operation, and a management team with years of experience.
A photo accompanying this announcement is available at http://resource.globenewswire.com/Resource/Download/7c92a800-c523-4bb7-ac85-1bb28e2ab48e