Bebe Stores Inc. (Nasdaq: BEBE), a women’s apparel and accessories retailer, has formed a joint venture with Bluestar Alliance LLC to develop a wholesale licensing business based on the Bebe brand.

Bebe Stores, based in Brisbane, California, owns just over 50 percent of the joint venture, with Bluestar owning just under 50 percent and paying $35 million to Bebe. Bebe is a global specialty retailer in the U.S., Puerto Rico and Canada, with 147 Bebe retail stores, an online store and 39 outlet stores, plus licensees selling Bebe branded products in more than 20 countries.

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