Maison Kitsuné and Chinese menswear brand JoeOne have formed a joint venture deal, as reported today by WWD. The 50/50 partnership, entitled Maison Kitsuné China Co. Ltd., will oversee the French company’s fashion and e-commerce businesses in the Greater China region, encompassing mainland China, Hong Kong and Macau.
Maison Kitsuné currently operates one Hong Kong-based store, but plans to expand to more than 50 points of sale in China within the next five years. By this September, the venture is expected to have opened at least three stores in the region, including Shanghai, Chengdu and an additional Hong Kong location. The French label currently has approximately 400 points of sale around the world. In addition to the deal with JoeOne, Maison Kitsuné has also signed South Korea’s Samsung C&T as its exclusive distribution partner in an effort to boost its overall Asian expansion strategy. It opened its first shop in Seoul last October.
“We are thrilled to be partnering with JoeOne on this exciting joint venture, which will provide Maison Kitsuné with broad resources to boost our business in Greater China. JoeOne’ s deep expertise and knowledge of the Chinese retail market and consumers make them an ideal partner to develop our long-term growth strategy in the region,” said Maison Kitsuné co-founder, Gildas Loaëc.
The financial terms of the deal have not been made public.