[Asia Economy Reporter Seungjin Lee] The Nature Holdings announced on the 11th that it has confirmed the 'Bestseller' group as the local partner in China for National Geographic Apparel (hereafter National Geographic) and signed a memorandum of understanding (MOU) for entry into the Chinese market.
'Bestseller' is a global fashion group headquartered in Denmark and ranks among the top five fashion companies in China. It currently operates over 7,000 stores in China, establishing a vast local distribution network. It is also actively engaged in various online businesses such as Tmall and WeChat.
National Geographic will officially begin its entry into the Chinese market starting with this MOU. In the second half of this year, it plans to rapidly raise initial brand awareness through aggressive expansion of distribution channels, including entry into the Chinese online market and operation of pop-up stores. To this end, The Nature Holdings will support product supply and marketing content, while Bestseller will be responsible for operating the online business in China.
Next year, the two companies plan to establish a joint venture. The Nature Holdings intends to secure a majority stake in the joint venture and, together with its partner, will actively target the mainland Chinese market.
Disney, which owns the National Geographic brand license, will also support National Geographic's overseas market expansion. During the agreement process, Disney China and the Disney APEC team participated in identifying capable partners in the Chinese market, and The Nature Holdings completed the signing through swift verification and decision-making.
National Geographic has already successfully established itself in the Greater China region, including Hong Kong and Taiwan, where it previously entered. This year, the average sales per store in Hong Kong increased by 43% compared to the previous year, and monthly sales have shown an upward trend. The fourth Hong Kong store, officially opened in July at Hong Kong's largest shopping mall, Harbor City, recorded sales performance at 330% of the target during its soft opening period.
A National Geographic representative stated, "China's sportswear market has grown at an average annual rate of about 15% over the past five years. With the government's various policies encouraging leisure sports activities, the market size is expected to expand further." He added, "Through the high interest in the brand forming in the Greater China region and the partnership with Bestseller Group, which is well-versed in the local market, we will successfully lead our entry into China and grow our business scale as a global brand."
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