New York designer Charlotte Ronson joins forces with MH Concepts to open her first store in Hong Kong's prestigious Harbour City on November 13th. This marks the designer's third store opening in China in the last two months.
The first two stores opened in Shanghai (IFC and Xintiandi) on September 27th. The alliance with MHC calls for two more Shanghai locations next spring, as well as stores in Beijing and Guangzhou opening in Summer 2011. MHC's business plan calls for a total of 200 freestanding, mall, and department store shops opening by 2014 throughout China, Hong Kong, and Macau. Ronson's new endeavor is expected to gross USD5M-10M in its first year.
MH Concepts, a privately owned Hong Kong and Shanghai based company, was founded in 2007 by Meanne Ho. With over 25 years of fashion industry experience, Ho was most recently Vice President of Gap Inc. Asia Pacific, a USD3B+ business, managing multi-national locations covering 20+ countries. Ho identifies Ronson's brand as the "Next Best Thing" for China's fashion scene, seeing the brand aligned with China's flourishing young market.
Unlike the brand's previous internationally licensed deals, Charlotte Ronson maintains complete creative control over product produced by MH Concepts, protecting the brand's trademark.
Privately owned by Charlotte Ronson and Aaron Nir, the brand's current US revenue is USD30M annually. After announcing a Japanese distribution deal with The Wall Co, Ltd. six months ago, this second venture into the Asian market solidifies Charlotte Ronson as a new force in the global market.