With partners including Diesel Kids, Catherine Malandrino and Weatherproof, Samsung’s fashion division can offer brands a route to market in the fashion space. Here, Michael Hahn VP of fashion at Samsung C&T America reveals why the company is now exploring new areas to expand this side of the business.
Tell me a bit about Samsung’s fashion division and what it does?
Samsung C&T America’s fashion division offers a complete financing and back-end logistics platform to wholesale businesses, leaving brands with full control of their business and time to focus on strategic growth.
Samsung purchases inventory, coordinates shipping, warehousing, invoicing and accounts receivable collection, while providing companies with limitless working capital.
The first major success story was with FUBU. While working with Samsung, the brand was able to take sales in men’s sportswear from a virtual start-up phase to $200 million in five years.
Business owners at companies like Q4 Designs and LJP International are free to focus on their strengths in design, sales and marketing instead of worrying about financing and logistics.
What categories does the division currently cover?
Samsung works with companies in a variety of licensing categories, including apparel, outerwear, footwear and accessories.
How does Samsung’s fashion division help to propel growing brands in the fashion space?
Licensees can leverage the global awareness and credibility of Samsung to expand their business through the discovery and pursuit of additional licensing opportunities.
Bottom line, when companies have their back-office logistics managed by experts and access to their capital, instead of having it tied up in inventory, they can think strategically about growing their business.
Who does the company currently work with?
Licensee partners of Samsung include Q4 Designs, which has licenses with U.S. Polo Association, Diesel Kids, Catherine, Catherine Malandrino and Weatherproof.
Another recent partner is LJP International, which has the licence for Bruno Magli, Nine West, Ben Sherman and Limited Too.
LJP International has experienced double digit-growth for four years in a row, and alongside Samsung they are poised to have a banner year in 2016.
Are there any new categories Samsung will branch out into in the future?
Samsung is always exploring new opportunities to expand the business. Currently our partners have a diverse portfolio of brands and categories that we see increasing organically and through the addition of new licences.