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The Korea Herald
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THE INVESTOR
March 29, 2024

Retail & Consumer

Kolon sets up JV with China’s largest sports apparel company

  • PUBLISHED :February 24, 2017 - 10:49
  • UPDATED :February 24, 2017 - 10:49
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[THE INVESTORKolon announced on Feb. 23 that it has decided to establish a joint venture in Hong Kong with ANKO Sports Product, a subsidiary of ANTA Sports, China’s largest and the world’s fourth-largest branded sportswear company by market value. 




The two partners will own equal stake in the joint venture temporarily named Kolon Sport China Holdings.

Kolon will invest trademarks worth 22.47 billion won (US$19.84 mnillion) and acquire 32.3 percent stake and its subsidiary Kolon Industries, which manages Kolon Sport, will acquire the rest. Later the parent company will hand over a 7.3 percent stake to Kolon Industries so that both would own 25 percent each. 

Kolon Sport entered China in 2006 and currently operates over 210 branches across the country with revenue from China posting a three-digit growth over the past three years. 

“With the establishment of a joint venture we will cooperate closely with ANTA and expect to promote and expand our brand not only in mainland China but also into the greater China. We will become the number one outdoor brand in the region,” said Park Jun-seong, general director of Kolon Sport. 

By Hwang You-mee (glamazon@heraldcorp.com)

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