FIFA and Chinese men’s suit brand, Diking, officially announced their partnership yesterday (June 7), making Diking the Official Asian Supporter of the 2018 FIFA World Cup. According to online reports, insiders disclosed the amount of the sponsorship fee is around USD20m.
Diking, the maker of casual business men’s suits, is a brand and entity of Monarch Group which is located in Shishi city, Fujian Province.
Based on color themes of the 32 World Cup teams’ national flags, Diking produced 32 ties to match each team displayed at the announcement.
Additionally, Diking also launched a premier series of 2018 FIFA World Cup men’s suits that would bear the logo of the World Cup, with only 2,018 suits being made in this series.
Shishi Mayor, Huang Chunhui, who was present at the ceremony, says that the partnership is a leading step for the city of Shishi and even the entire Fujian Province. It serves as an example for more local companies to expand into the international market.
The Monarch Group produces leather products, operates in property management, financial and hotel management and other businesses in addition to producing men’s clothing. It was founded in 1994 and claims a fixed assets value of over CNY1bn.
This partnership can be seen as a signal and a demonstration of Chinese companies’ strengths and willingness to expand internationally, especially comopanies from the south of China.
Proofread by Raymond Fitzpatrick