Kolon Sport Taps In on the Chinese Market

Kolon Sport Taps In on the Chinese Market

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Kolon Sport is an outdoor gear and clothing brand of the respected Korea based Kolon Industries. They plan to establish a joint venture with ANKO Sports Product, a subsidiary of ANTA Sports, the largest sportswear maker in China, to tap the Chinese market. The venture between Kolon Group and ANTA will be temporarily named Kolon Sport China Holdings.

Kolon Corporation invested $19.84 million totheir acquire 32.3 per cent stake, while its subsidiary Kolon Industries owns the majority share. The parent company will, however, hand over a 7.3 per cent stake to Kolon Industries so that both would own a 25 percent each, according to Korean media reports.