"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 yesterday.
They also plan to create more brands with other sports and entertainment stars which they didn’t disclose.
“It takes me into an ownership area where I’m more in control of the creative side, more in control of the creative sides for other brands and for other iconic individuals,” Beckham told Bloomberg Television’s John Dawson in an interview.
Fuller and the former Manchester United, Real Madrid footballer will hold 50 per cent of the venture. Global Brands, a spinoff from sourcing company Li and Fung Ltd., will own the other half. No financial or other details of the deal were disclosed.
Global Brands rose 3.6 per cent to HK$1.75 at 10:03 a.m. in Hong Kong trading.
Beckham, Fuller and Rockowitz will select brands based on both companies and individual people. “We’re going to be bold and we can afford to be bold,” the former footballer said.
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 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 shoes and licensed characters such as Angry Birds and Spiderman.
“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 US,” Global Brands chief executive officer Bruce Rockowitz said at a press conference in Hong Kong yesterday, appearing alongside the British duo.
Bloomberg
