Skechers announced on Thursday that it will no longer use a third-party distributor for retail in South Korea and instead begin a joint venture with Luen Thai Enterprises. According to Skechers, this new partnership will allow the brand to use proven sales and marketing strategies to further expand brand awareness in South Korea.
“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 utilizing the talents of exceptionally popular endorsees like K-Pop stars Sistar and EXO,” said David Weinberg, Skechers chief operating officer and chief financial officer. “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.”
“By forming a joint venture with Skechers that combines our global expertise with their unique insight in this market we’ll be able to more efficiently build the brand and more effectively directly target merchandising to the unique tastes of consumers across South Korea,” said Willie Tan, Skechers Asia chief executive officer.