Umbro increases stake in China joint venture to 40 per cent

has reached an agreement with Win Hanverky Group to purchase an additional 15% equity stake in its licensee for Greater China, Team & Sports Ltd (‘Team and Sports’) and enter into a revised distribution agreement.

The agreement increases Umbro’s exposure to the rapidly growing Chinese market, which has a population of over 1.3 billion and growth in GDP of 10.7 per cent in 2006.
Team & Sports distributes Umbro branded sportswear, footwear, accessories and sports equipment in the Peoples Republic of China, Hong Kong and Taiwan on an exclusive basis. As at 31st December 2006 there were over 90 distributors operating over 1,000 Umbro retail outlets in these territories.

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