Charles Russell Speechlys have advised Symphony Holdings Limited, an investment holding company listed on the HK Stock Exchange, on the sale of its trademark portfolio of international footwear brand, PONY, in the Non-APAC region to Iconix Brand Group.
The Firm also advised Symphony Holdings on the transfer of its PONY trademark portfolio in a large number of APAC countries to a joint venture company set up between Iconix Brand Group and Symphony Holdings Limited for a combined total of USD $28 million.
Symphony Holdings is principally engaged in the sports brands and retail sectors; it owns the Skins brand, retail malls and outlets in China. Prior to the transaction, the Symphony corporate group owned the brand PONY in a number of countries globally. In 2015 Symphony Holdings sold the PONY brand rights in North America to the Iconix Brand Group, and so this deal significantly expands the scope of their rights to the PONY brand.
The Charles Russell Speechlys team was led by Partners Nick White and Daniel Rosenberg who were supported by Senior Associates Caroline Young and Nathan Lightman, Associate Iwan Thomas and Trainee Laurence Whymark, along with assistance from its global offices.
Charles Russell Speechlys also worked closely with the Symphony Holdings legal lead, Peter Cheng.
Nick White comments: “This was an excellent opportunity for Symphony Holdings to find the right partner in Iconix to collaborate with to develop the PONY brand in Asia Pacific. Symphony Holdings is an exciting business to work with and we’re thrilled to have been able to combine our corporate M&A, IP, and retail sector experience to help the Symphony team successfully complete this latest transaction.”
Daniel Rosenberg added:
“We were able to advise on Hong Kong and BVI law aspects of the transaction, as well as on English law, making this a truly international collaborative effort.”
Symphony Holdings comments:
“Charles Russell Speechlys has quickly become a trusted legal advisor. This latest commercial opportunity was time-sensitive and complex, requiring a highly commercial approach, and technically excellent legal know how. The team understood our business and the PONY brand, and their assistance was invaluable in driving the deal to completion.”