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NEW YORK — LF USA, a subsidiary of Li & Fung, has put a ring on Beyoncé’s finger.
LF USA has acquired Beyond Productions LLC, the apparel and accessories company led by Beyoncé and Tina Knowles. Beyond Productions is a designer and licenser of women’s fashion apparel and accessories whose brands include House of Deréon, Deréon, Curvelicious and Miss Tina. In addition, LF USA has entered an endorsement agreement with Beyoncé for House of Deréon and Deréon.
Terms of the long-term deal weren’t disclosed.
One of the reigning queens of pop music, Beyoncé, 29, was the big winner at last year’s Grammy Awards, taking home six trophies, including one for Song of the Year for her hit “Single Ladies (Put a Ring on It).” Having appeared in such movies as “Cadillac Records,” “Austin Powers in Goldmember” and “Dreamgirls,” Beyoncé has been cast as the lead in the remake of “A Star Is Born,” a role made famous by Judy Garland and Barbra Streisand.
Beyond Productions LLC was established in 2004 by the Knowleses, with Jason and Arthur Rabin and Cory Silverstein of Wear Me Apparel/Kids Headquarters, which is based in New York. Under the various monikers, Beyond Productions’ lines span ready-to-wear, casual sportswear, denim, outerwear, handbags, footwear and other accessories, which are distributed through department stores, mass merchants and specialty stores worldwide.
In an interview Monday in New York with Beyoncé and Tina Knowles, Rick Darling, president of LF USA, and Bruce Rockowitz, president of Li & Fung (Trading) Ltd., they all spoke about their desire to expand the brands globally.
“We’re at the point where we wanted to have more growth, and we needed someone who was global,” said Tina Knowles, creative director. “We’re very interested in taking the brand international, and L&F is the best at that.” She said the brand already has some distribution in Greece, Canada and China.
Darling explained that LF USA, which became acquainted with Beyond Productions through its 2009 acquisition of Kids Headquarters, is in the midst of expanding its portfolio of proprietary brands, “and this is a great addition.”
“I think the brand hasn’t really been pushed the way that it could be. It’s done really well in a certain marketplace, and we think there’s a huge opportunity internationally that’s never been exploited,” said Darling.
Rockowitz added that the acquisition will benefit from Li & Fung’s completion of its LF global network of LF USA, LF Asia and LF Europe. “Beyoncé is such a big name, and with her mother, the team is really strong and it has a global following,” he said. Darling added that he hopes LF USA will source as much of the product as they can themselves.