The firm's client is aiming to make China its largest offshore market
Thomson Geer has helped an Australian company form a new joint venture (JV) in Hong Kong to expand one of its brand’s presence in what it aims to be its largest offshore market.
The firm advised McPherson’s on its JV agreement with Access Brand Management, with a team that consisted of partner David Zwi and associate Nicola Moldrich.
The new agreement is to expand sales of McPherson’s Dr LeWinn’s anti-ageing products in Greater China. The new agreement builds on the existing relationship between McPherson’s and Access, which has managed and distributed Dr LeWinn’s products in greater China for the past two years.
The new JV agreement involves Access acquiring a 51% stake in a new company incorporated by McPherson’s in Hong Kong. Certain trademarks in mainland China, Hong Kong, Macau, and China will then be transferred to the company by McPherson’s.
Thomson Geer said that McPherson’s is aiming for the Chinese market to be its largest offshore market, if the sales of Dr LeWinn’s reach the 2020 goal of $25m in net sales. Regional sales in Greater China have grown from $400,000 in 2017 to $3.3m in 2018 and $16.7m in this fiscal year.
Thomson Geer said that Access was counselled by Bird & Bird.
Image: David Zwi
