Quick Take: Chinese Sportswear Maker to Buy Greater China Rights to Prince Sports
Chinese sportswear maker Guirenniao Co. Ltd. plans to acquire part of the trademark rights of U.S.-based Prince Global Sports LLC for $20 million.
The deal will give Guirenniao the rights to Prince trademark assets, including its websites and social media, the rights to develop and sell Prince-branded products in Greater China, including in Hong Kong, Macau and Taiwan, as wells as in South Korea.
Prince is a famous manufacturer of tennis rackets, footwear and apparel. However, the private company has undergone financial challenges and filed for bankruptcy protection in 2012.
The deal can help the Chinese buyer diversify its brands and markets, the company said in a filing to the Shanghai Stock Exchange on Saturday.
Guirenniao, which is popular in smaller cities in China, said it will make use of Prince’s assets and will target high-end consumers in first- and second-tier cities.
Trading on the Shanghai Stock Exchange, where Guirenniao lists, is closed during the week-long national holiday between Oct. 1 and Oct. 8.
Contact reporter Coco Feng (renkefeng@caixin.com)

- 1Cover Story: China’s Factory Exodus Is Turning Vietnam Into the World’s Assembler
- 2Meituan Enters Open-Source AI Race With LongCat Model
- 3Ex-UBS Banker in Hong Kong Jailed 10 Years for Laundering $17.2 Million
- 4Alipay Fined by Luxembourg Regulator for Anti-Money Laundering Breaches
- 5End of U.S. Tax Exemption Hits Chinese Air Cargo Carriers Differently
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas