Getz Group & Van de Velde Join Forces to Expand Private Shop in Asia
Getz Group and Van de Velde have joined forces to expand the Private Shop chain in Asia. The joint venture, announced recently, aims to grow the multi-brand intimate apparel business in Hong Kong, China, and Macao. Despite the excitement, details about the chairman of the new venture remain scarce.
The new company, a 50-50 partnership, will see Getz Group manage daily operations and control the majority of the board. Van de Velde, owner of brands like Andrés Sarda, will introduce its labels into Private Shop stores across Asia. The Dutch company invested $7.5 million to secure its half of the venture.
Private Shop, with a 16-year history in Hong Kong and 5 years in China, currently boasts 22 stores. The expansion plans, driven by this alliance, promise to strengthen Van de Velde's presence in the Asian market.
The joint venture between Getz Group and Van de Velde is set to reshape the intimate apparel landscape in Asia. Despite the lack of information about the chairman, the partnership's goals are clear: to grow the Private Shop chain and expand Van de Velde's reach in the region.
