SEUM advised private equity fund Alpha Vista Investment Co., Ltd. (“Alpha Vista”) in its acquisition of 100% of the equity of Global Brands Korea, the exclusive distributor of the U.S. sports apparel brand SPYDER in Korea. Woori Private Equity and Aarden Partners participated as purchasers in the buyout.

The SPYDER brand initially started with producing ski suits for the US and Canada national teams in 1978 and expanded to manufacturing and distributing functional sportswear. GBG Korea had been operating 145 stores nationwide by acquiring the distribution rights to the SPYDER brand from Global Brands Group, an affiliate of Hong Kong’s Li & Fung Group, the world’s largest SCM company. GBG Korea would also acquire a license to the SPYDER brand from ABG of the United States and be responsible for the domestic management (sourcing, planning, marketing, etc.) based on overseas funding through the Li & Fung Group.

GBG Korea’s Representative Director Jihwan Kim also participated in this transaction as a limited partner of the project fund purchasing the GBG Korea equity. Mr. Kim is known in Korea as the leader in the overseas license management business for his commercialization of outdoor apparel brands, such as bringing the publishing rights of Discovery Expedition and other brands to Korea and creating a network with fashion company F&F. Mr. Kim revealed future plans to work with Alpha Vista to expand the SPYDER lineup and develop the brand into a lifestyle clothing brand while focusing on increasing its market share. 

SEUM provided Alpha Vista with comprehensive advice throughout the transaction, including reviewing and negotiating the Unit Purchase Agreement for the purchase of the entire equity of GBG Korea and other ancillary agreements, over the course of approximately a year, which allowed Alpha Vista to smoothly consummate the transaction.