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What Brands Should Look for in a Chinese Partner

Chinese investors and partners: Are they a turnkey solution that will open doors to the world’s most lucrative consumer market, or a culture clash waiting to happen? The number of deals between Western brands and Chinese firms is unmistakably surging, from the sale of a majority stake in Jason Wu to private equity firm Green Harbor in May to the stream of acquisitions and partnerships coming from the likes of Ruyi Fashion Holding Group and Fosun. Self Portrait is the latest brand to hold talks with several interested Chinese parties. Brand founder Han Chong revealed to WWD that the London-based contemporary women’s wear label is targeting a venture for China with a local fashion company and expects to finalize a deal soon. “China moves so fast; in order to catch up with that, having a good partner is crucial,” said the designer. “Despite me being Malaysian Chinese, it’s still very hard for me to navigate the way, the speed and the culture of Chinese doing business.” WWD has also learned that Zadig & Voltaire is expanding its venture with IT Group to include Mainland China, despite owner Thierry Gillier’s rude comments regarding Chinese tourists back in 2012, which resulted in muted interest from investors

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