Symphony Holdings Limited announced that it had completed the acquisition of the global trademarks and patents of Skins, the Australian apparel manufacturer known for its compression products.
In January 2019, Skins filed for bankruptcy in a Swiss Court. The company blamed the global financial crisis that eventually led to the company taking on too much debt.
Symphony Holdings, based in Hong Kong, said in a statement that with over 900 different classes of trademarks and patents worldwide including the patents of core technologies of Skins products, design and all the trademarks, enjoying the rights to globally develop, manufacture, promote and distribute Skins products, the company will fully utilize the advantage enjoyed by its global operation, re-organize its product development and operation team, thereby enhancing Skins brand’s core competitiveness.
Skins is a compression wear brand specially designed and produced for athletes and sports enthusiasts. The compression function prevents edema and improves recovery, it also heals after-sports muscle pain. Skins has over 160 types of compression products, applicable for sports like running, fitness, yoga, and triathlon.
Cheng Tun Nei, chairman, said, “Multi-brand operation is the key strategy adopted by the company to fully grasp the global market opportunity. Skins has its own unique brand positioning and target customers, thereby creating synergy with the company’s existing brand portfolio. It is believed that it possesses strong growth potential. Apart from this, the company has plans to form a joint venture company with an international conglomerate to jointly-operate the Skins brand for the purpose of expanding into the global market, thereby enlarging the company’s sports fashion market (including “fitness”, “swimming” and “casual wear”), both the company’s earning and sustainability development capability will be further enhanced.”