Safilo has signed a joint venture agreement in South Korea with Parma International, an expert local player active in the eyewear and sports products sector, which will allow the development of new distribution channels together with marketing and digital communication services. The joint venture, whose 51% will be held by the Italian eyewear manufacturer, will be based in Seoul, South Korea, and will distribute the eyewear collections of many of the brands in the Safilo portfolio with the aim of expanding the company’s presence in the market.
“South Korea is of strategic importance to Safilo both for the potential of its domestic market and for the role it plays all over the world as a trend setter in design. In this market we are committed to building a solid, profitable business long term“, commented Safilo’s managing director, Angelo Trocchia.
“Parma International’s experience in distribution and knowledge of the local wholesale and retail market make it an ideal partner to develop our long-term growth strategy,” he added.
“This partnership is very important for us. We share the vision and the business approach with Safilo and I am sure that the creation of this joint venture will allow both of us to strengthen and accelerate in the market“, added Sangken Park, Ceo of Parma International. SeeOne, the current Safilo distributor for the Korean market, will continue to manage the distribution of certain brands in the Safilo portfolio.