David Beckham and his business partner, XIX Entertainment Founder Simon Fuller, "have signed a deal with Hong Kong-listed Global Brands Group to push brand Beckham into new products -- and bring in other celebrities on similar terms," according to a front-page piece by Jennifer Hughes of the FINANCIAL TIMES. Beckham and Fuller "signed a 50-50 joint venture" with GBG CEO & Vice Chair Bruce Rockowitz. The deal "is expected to involve launching Beckham-branded consumer products, including clothes," in Asia, Europe and the U.S. The trio "hope to sign up other celebrities within six months but would not be drawn on other names." The move "is the latest attempt" by Beckham to "use his personal brand to sell consumer products." GBG "was spun out" of Hong Kong-based global sourcing firm Li & Fung in July (FINANCIAL TIMES, 12/4). WOMEN'S WEAR DAILY's Ellen Sheng noted the parties involved "did not disclose much detail about what the joint venture will entail, other than to say that it would cover multiple product categories globally." Global Brands "declined to say when products would be revealed, what other stars they are talking to or even if David Beckham will have a namesake brand." However, the trio "did emphasize that the joint venture would be far more than just a clothing line, which Beckham has reportedly been looking into launching" (WWD.com, 12/3).
FROM THE HORSE'S MOUTH: Beckham during a TV appearance emphasized he was "stepping away" from having signature products. He noted while "there might be the odd thing," the deal is more about "creating something for other brands and for other icons." Beckham added, "It's not about, 'Okay, is David Beckham going to do watches, bed sheets, socks, candles?' It's about a bigger picture" ("Worldwide Exchange," CNBC, 12/4).
