Chinese PE firm Green Harbor acquires fashion brand Jason Wu

Photo from Jason Wu's Instagram.

By Nguyen Thi Bich Ngoc

May 6, 2019

Chinese private equity firm Green Harbor Investment has acquired a majority stake in JWU, the parent company of American fashion brand Jason Wu, for an undisclosed sum, per an announcement by the investor.

JWU was established in 2007 by 35-year-old Taiwanese women’s designer Jason Wu, who has made gowns for celebrities including Michelle Obama, Meghan Markle and Michelle Yeoh.

It was understood that Green Harbor purchased the shares from American investment firm InterLuxe, which acquired JWU in 2014.

The label is showcased at luxury shopping department stores in the US such as Bergdorf Goodman and Saks Fifth Avenue. The company has also expanded into the affordable luxury fashion line to cater to young white-collar women, according to the announcement.

“The Chinese market with great potential is also the focus of the company’s strategic development,” Green Harbor said.

“This cross-border acquisition of Jason Wu is fully in line with the investment layout of Green Harbor Investment, including the philosophy of supporting the younger generation of entrepreneurs and the consumption upgrading concept,” it added.

The private equity firm, founded in 2015 with offices in Beijing and Hong Kong, invests across the retail, healthcare, education and financial services. The JWU acquisition marks its first investment in an American brand and an apparel firm.

As Jason Wu expands its business to China, Green Harbor said it will provide corporate partnership in addition to financial investment, including reshaping the management team, strengthening marketing team and leveraging its resources in media, commercial real estate and finance.

“Green Harbor Investment believes that the continued prosperity of China’s economy is a new driving force for global economic growth, and we bet on positioning the new generation of entrepreneurs in the consumer segment… The Chinese women’s wear market, especially luxury fashion, is growing at a rapid rate,” the private equity firm said.

Green Harbor is led by Zidi Liu, a female investor who has previously worked with Yunfeng Capital and Deutsche Bank’s investment banking division.

Business majors such as Fosun and Shandong Ruyi are continuing their buying spree of overseas luxury apparel brands, looking to challenge Western giants in their own market, which is set to overthrow the US to become the world’s largest fashion market in 2019.

Also Read:

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China’s Ruyi Group seeks to raise $500m in US IPO for Lycra unit

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In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.
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