- Prachi Singh
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Safilo Group has entered into a joint venture agreement in South Korea
with Parma International, an experienced local player active in the eyewear
and sporting goods sectors, which Safilo said, will favour the development
of new distribution channels in the market together with marketing and
digital communication services. The company added that the joint venture,
51 percent owned by Safilo, will be based in Seoul, South Korea, and will
distribute the eyewear collections of many of the brands in Safilo’s
portfolio with the aim of increasing the company’s reach in the country.
“We are committed to building a solid, profitable and long-term business
in South Korea, a market that holds strategic importance for Safilo at a
global level, both for its domestic market and for its role as a trend
setter in design for the whole world,” said Angelo Trocchia, CEO of Safilo
Group in a statement.
“This partnership is very important to us. We share Safilo’s vision and
approach, and I am sure that the creation of this joint venture will enable
us to strengthen and accelerate our respective businesses,” added Sangken
Park, CEO of Parma International.
The company further said that Seeone, Safilo’s current distributor for
the Korean market, will continue to manage the distribution of some brands
of Safilo’s portfolio.
