St. John Creative Director Zoe Turner

St. John Creative Director Zoe Turner

Fosun Fashion Group Ltd., the parent to Irvine luxury knit house St. John Knits Inc., said Wednesday it struck a deal with China-based e-commerce company Baozun Inc. and marketing firm Activation Group Holdings Ltd. on a strategic alliance focused on growing Fosun’s brands in China.

Fosun is also the parent to Lanvin, Wolford and Caruso.

The deal gives Baozun and Activation Group minority stakes in Fosun.

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The three companies are looking to create what they called a “one-stop platform” for Fosun’s brands and new ones in the China market by streamlining marketing, finance, omnichannel and other operations.

"As the global landscape of e-commerce and digitalization changes, there is no doubt that it is changing faster in China than in any other market," Fosun Chair Joann Cheng said in a statement. 

She added, "We made a strategic decision to form this consortium through a capital transaction, so that we can leverage the operational experience our partners have built over the years, for example, Baozun's cutting-edge expertise to introduce our brands to this very dynamic market.”