US-based Kate Spade has acquired its businesses in Hong Kong, Macau, Taiwan, Malaysia, Singapore, Indonesia and Thailand from partner Globalluxe.

The company, owned by Fifth & Pacific, will pay Globalluxe approximately $34 million.

In Hong Kong, Macau and Taiwan, Kate Spade will directly own and operate the related businesses in future.

In Singapore, Malaysia and Indonesia, Kate Spade has signed a new partner, Valiram, to operate the Kate Spade New York and Kate Spade Saturday businesses through distribution agreements.

In Thailand, Kate Spade has entered into a direct distribution agreement with AT Luxury, Globalluxe’s current sub-distributor.

Globalluxe and its distribution partners operated six stores and one concession in Hong Kong, one concession in Taiwan, one store in Macau, two stores and one concession in Singapore, two stores in Malaysia, three stores and one concession in Indonesia, and two stores and six concessions in Thailand.

Kate Spade has also established an Asian regional headquarters in Hong Kong to help manage other brand operations and partnerships in the region including the joint venture in China and the newly formed distribution arrangements for Singapore, Malaysia, Thailand and Indonesia.