HONG KONG, China — “American Idol” creator Simon Fuller plans to brand it like Beckham.
The two British celebrities have agreed to set up a joint venture with Hong Kong-based Global Brands Group Holding Ltd. to develop David Beckham-branded consumer products globally, the company said in a stock exchange statement today. They also plan to create more brands with other sports and entertainment stars which they didn’t disclose.
“The reason why we’ve done it together is to take it global so it will be all over the world; it will be Asia, Europe, the U.S.,” Global Brands Chief Executive Officer Bruce Rockowitz said at a press conference in Hong Kong today, appearing alongside the British duo.
Fuller and the former Manchester United, Real Madrid footballer will hold 50 percent of the venture. Global Brands, a spinoff from sourcing company Li & Fung Ltd., will own the other half. No financial or other details of the deal were disclosed.
Beckham has used his celebrity status on several consumer- related products. Last year, the star signed an agreement with Las Vegas Sands Corp. to promote the casino operator’s business in Asia. Diageo Plc has also hired the retired soccer player to peddle a new Scotch.
Global Brands designs, develops, markets and sells products globally. It manages over 350 labels including Coach Inc. shoes and licensed characters such as Angry Birds and Spiderman.
By: Morwenna Coniam; editors: Stephanie Wong and Kim McLaughlin.