Footwear retailer Skechers USA is shifting its business in South Korea from a third-party distributor to a new joint venture (JV) with Luen Thai Enterprises.
The new Skechers Korea joint venture will allow the company to use its sales and marketing strategies to further expand its footprint in one of the key international markets. The JV offices are based in Seoul.
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Skechers currently has 57 concept and outlet stores in the country, of which 13 are Skechers-owned.
Skechers chief operating officer and chief financial officer David Weinberg said: “Skechers footwear has been available in South Korea for more than 15 years.
"In that time, we have developed a great footprint with a network of more than 55 Skechers stores and built the brand through strong marketing campaigns, including utilising the talents of exceptionally popular endorsees like K-Pop stars Sistar and EXO in Skechers marketing campaigns."
“With a dedicated team from our previous distributor, LS Networks, and the knowledge and acumen of our Skechers China team, we believe we can profitably grow our business in South Korea and truly penetrate the region with a strong presentation from our vast collection of men’s, women’s and kids’ footwear.”
LS Networks was a South Korean distributor for Skechers from 2009 to this year.
Skechers Korean distribution partner's former senior general manager and Skechers Korea current president Sung Hun “Scott” Lee said: “We’ve been very pleased with the consumer response to the Skechers product in South Korea.
“Through my time with LS Networks, I’ve seen firsthand how Skechers has grown in Korea, most recently through the Skechers D’Lites craze that started here in 2015 and spread through Asia and then around the globe.
"Now as part of the Skechers global team and with key members of my previous team transitioning with me, we’ll have the direct resources, support and insight to really take the business to the next level.”
