Speedo International Limited entered a partnership with Symphony Resources Ltd, a subsidiary of Symphony Holdings Ltd. Symphony has been granted the master license for the Speedo brand in China and Taiwan commencing on January 27, 2007.
With revenues in excess of $230 million, Symphony's business activities include footwear manufacturing, trading and property investments. Symphony has actively expanded into brand development and distribution in the Greater China region to leverage its manufacturing and retail property interests. Through the development of shorter lead-times for product deliveries and dedicated marketing efforts, Symphony has been successfully managing the Reebok brand in China since 2004 while delivering substantial year-on-year growth.
Speedo President, Dave Robinson added: We are pleased to welcome Symphony into the Speedo family. We look forward to a long and fulfilling relationship as we work closely together to unlock the full potential of Speedo in China and Taiwan.
Speedos previous licensing partnership for China and Taiwan, with Mizuno, ended on December 31st 2006 on amicable and mutually respectful terms.