Zhong Lun Assists Hopson Commercial Group in Establishment of Strategic Partnership with Galeries Lafayette Management 2023-04-11
Recently, Hopson Commercial Technology Co., Limited and Galeries Lafayette Management announced their strategic partnership to form a joint venture in China. The strategic partnership will take effect in the coming weeks, with Galeries Lafayette Management and Hopson Commercial Group enjoying equal shareholding and voting rights in the joint venture. Empowered by Hopson Commercial Technology Co., Limited’s commercial real estate portfolio, extensive experience in operating high-end urban complexes and shopping centers, and in-depth insight into the Chinese market, Galeries Lafayette will continue to offer a carefully curated product portfolio to meet the unique needs of different generations of customers. Hopson will leverage the strong fashion genes and luxury advantages of Galeries Lafayette to promote the French artistic lifestyle in a cross-brand area with thoughtfully selected multi-brand products at its core. The partnership will lead the development of the Galeries Lafayette brand in China into a new dimension, strengthening its multi-channel business including digital presence. Following the openings of two flagship stores in Beijing and Shanghai, Galeries Lafayette will set up three more stores in Shenzhen, Chongqing and Macau in 2023.
As the legal advisor to Hopson Commercial Group in this project, Zhong Lun Law Firm provided one-stop legal services, including designing and discussing the transaction structure and joint venture scheme, conducting legal due diligence, drafting and negotiating legal documentation such as the share purchase agreement, joint venture agreement, and trademark license agreement, and advising on other related legal issues such as anti-monopoly and data protection.
Zhong Lun’s services in this project were led by partners Ellen Chen and George Ji, and mainly handled by partner Ethan Zhu. The team also included non-equity partner Elaine Zhu and counsel Alfred Xu, and associates Mark Wang, Viola Shen, Zoe Wu, Karl Kang, Zhang Linzhu, and Helen Ruan, among others. Partners Luke Zhang, Maria Hou, and Jane Yao assisted with this mandate in their respective areas of expertise and jurisdictions.
Hopson Commercial Technology Co., Limited, positioned as a commercial ecological chain value creator, is a professional commercial real estate investment, operation, and asset management platform. It manages commercial complexes, office buildings, industrial complexes, hotels, and service apartments. By virtue of its core competencies in full industry chain investment, full lifecycle asset management, full business chain commercial operation, and all-round risk control, Hopson’s operation is expanded into more than 10 core cities in China including Beijing, Shanghai, Guangzhou, Shenzhen, and Chengdu. The company now operates more than 100 commercial real estate projects with a total GFA of more than 5 million square meters, serving hundreds of millions of urban population.