CAA has teamed with Hong Kong-based Global Brands Group for a joint venture that will expand the agency’s capabilities in brand management, licensing, product development and retail activities.
The deal makes the newly created CAA-GBG a subsidiary of Global Brands. Clients of the company include Coca-Cola, Jeep, candy giant Hershey’s, Jennifer Lopez, Eva Longoria and the estate of reggae legend Bob Marley
“The formation of CAA-GBG enables us to marry the vast resources of both CAA and Global Brands to create world-class business-building opportunities for our combined clients globally,” said CAA president Richard Lovett.
CAA and Global Brands have worked together in the past on licensing and brand development for CAA clients. In recent years CAA has spearheaded licensing and product launches for clients including Longoria, Bethenny Frankel, Kate Hudson and Kelly Ripa.
Perry Wolfman, head of CAA’s Licensing division, will serve as CEO of CAA-GBG, while Jared Margolis, president of Global Brands’ Brand Management Group, will be president of the joint venture.
The new joint venture will have 24 offices in 20 countries. The alliance with CAA will expand its access to talent from Hollywood and the sports arena.
“Global Brands’ established international brand management operation, understanding of a brand’s DNA, and in-depth knowledge of retail will be combined with CAA’s remarkable collection of talent and brands, and media and marketing platforms in the U.S.,” said Bruce Rockowitz, CEO and vice chairman of Global Brands Group Holding Limited.