Sequential Brands Group Announces Plans to Expand AND1 Basketball Brand to China
NEW YORK, Oct. 26, 2016 (GLOBE NEWSWIRE) -- Sequential Brands Group, Inc. (Nasdaq:SQBG) ("Sequential" or the "Company") announced today that it has entered into a long-term agreement with Guirenniao Co., Ltd. ("GRN") to bring the AND1® basketball brand to China.
A photo accompanying this announcement is available at http://www.globenewswire.com/NewsRoom/AttachmentNg/4369d88f-b660-41a2-9de9-9c406a2a8cbc
Under the new agreement, GRN will work closely with the Company to develop and distribute a line of men's and boys' basketball apparel, accessories and footwear. The collection will launch in 2017 across both traditional and digital retail channels. Standalone AND1 retail stores as well as women's apparel and footwear is planned for 2018.
"With over 300 million people in China playing basketball and a rapidly growing interest in the sport, we see an incredible opportunity to engage with consumers in a critical market, as we look to further expand the AND1 brand globally," said Eddie Esses, President of Sequential's Active Division.
"We are pleased to partner with Sequential Brands Group to introduce an authentic lifestyle basketball brand like AND1 to Chinese consumers," stated Mr. Tianfu Lin, Chairman of Guirenniao Co., Ltd. "This partnership will serve as an important milestone in the strategic growth and development of GRN as we plan to invest substantially in making AND1 a major sports brand throughout China."
AND1® is a premier basketball footwear and apparel brand that has remained synonymous with the game of basketball and its streetball lifestyle for nearly 25 years. Today, the mission of the brand remains a never-ending quest for excellence on and off the court. AND1's footwear, apparel and accessories can be found at select retailers around the world. For more information, visit www.and1.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: email@example.com.
About Guirenniao Co., Ltd. ("GRN")
GRN is a leading sports brand in China with over 4,000 stores across the country. Listed on the main board of the Shanghai Stock Exchange, GRN is China's only sports brand listed in mainland China. Established in 1987, GRN has been enjoying exciting growth by offering exceptional style, quality, service and value to Chinese consumers. GRN is actively building a universe of sports to offer consumers a total sports experience, covering sports media, e-commerce, sports talent management, campus sports program, multi-brand retail networks, and sports investment.
Media Contact: Sequential Brands Group, Inc. Jaime Cassavechia, +1 212-518-4771 x108 firstname.lastname@example.org