It's down to a backwards attitude held by a lot of clubs. Keep it in house and take all profit. Only the big clubs and Albion go down the route of properly licensing out. When they do that they make more money from selling the license to a manufacturer. They then get a % of the money made selling it to wholesalers. The kit and training is slightly different and all that is needed is an agreement for the supplier to sell it to their partners and outlets (Sports Direct, JD etc). I mean you can buy Salford City shirts on South Korea!!
They lose zero in terms of club shop sales and what they do lose in online they have already made up for it. They also open the club up to potential new fans, especially abroad.
Fosun want a global brand of Wolves. They could do it themselves via shops in various cities alongside online presence but the easy option is the licensing. They have started on that route.