The Disposals of PONY Trademarks and the Formation of the JV Company: Foster Synergetic Effects with Iconix International Inc.
Symphony Holdings Limited (“Symphony” or the “Company”, together with its subsidiaries, collectively the “Group”, stock code: 1223.HK), is pleased to announce that it has completed the sale of its trademark of lifestyle brand “PONY” outside the Asia Pacific to Iconix International Inc. (“Iconix”), and the sale of the trademark of PONY in the Asia Pacific (excluding China and Taiwan region) to the Joint Venture Company (“JV Company”) formed with Iconix.
The Group has always been looking for strategic partners to further cement its business while continuing to enhance its current operation. The sale of the PONY brand trademark and the joint venture formation will be a great opportunity for the Group to explore international perspectives and insights, while also beneficial to the development of the PONY brand.
Mr. Cheng Tun Nei, Chairman & CEO of Symphony, said, “The transaction is consistent with Symphony’s strategy to effectively allocate resources throughout the Group. We will mobilize our resources to manage PONY’s business in the Asia Pacific region through a joint venture setup. With our collaboration, it leverages Iconix’s global resources, its valuable experience in branding & licensing operations, coupled with Symphony’s expertise in the Asia Pacific region. As this also coincides with the historical celebration of PONY’s 50th anniversary, we are confident that this will create synergy which would enhance the brand’s influence, especially in the Asia Pacific Region. In addition, we will continue to deepen our branded business while seizing market opportunities to support the long-term development in the fast-changing market.”
Bob Galvin, CEO of Iconix, commented, “We are proud to announce our global ownership of PONY, which will allow Iconix to control and invest in the brand’s considerable equity, including improved product development and a greater focus on digital and data-based marketing. Sports remains a key focal point of our portfolio and PONY, with its strong brand recognition and rich heritage in both sport and fashion has significant potential for global growth. We look forward to evolving the brand to introduce it to a new generation, while also connecting with consumers that already value its heritage. In addition, PONY will be celebrating its 50th anniversary later this year with a very exciting relaunch of the brand with our partners around the world.”