(Filed Under wholesale Lingerie News). Belgian lingerie company Van de Velde has entered into a business agreement with Hong Kong-based Getz Bros. Ltd. to run and further develop Private Shop, the leading multi-brand lingerie retail chain in Hong Kong and China.

Van de Velde and Getz will each own 50 percent of the joint venture, while Getz will carry out daily management for the venture, as the company holds the majority in the board of directors. The venture will be operational in January 2012 with the intent to expand the business across China, Hong Kong and Macau. Van de Velde brands including Marie Jo and Prima Donna will launch in the Private Shop stores, of which there are currently 11 in China and 11 in Hong Kong.

"We have a lot of respect for what Private Shop has achieved in the last 16 years and are proud to be part of this venture," stated Ignace Van Doorselaere, C.E.O. of Van de Velde. "We believe Chinese women are entitled to the fitting room concept as we develop it throughout the U.S.A., the U.K. and in continental Europe. It might take some time to firmly establish the concept, but we are very convinced about its long-term success."

Getz Bros. Ltd. is a member of United States-based Getz Group, focused on diversified operations in international trading, marketing and manufacturing in Asia. Van de Velde NV is based in Schellebelle, Belgium.

more wholesale Lingerie News >>

Published 11-28-2011 by Katherine Rautenberg