Skechers in Korea will now be managed by a joint venture with the parent company.
Previously imported and distributed by a third-party company, Skechers head office in the US has confirmed it has partnered with Luen Thai Enterprises in a new business called Skechers Korea Co.
“This will enable Skechers to use its proven sales and marketing strategies to further expand the brand in one of our key international markets,” the company said in a statement released in the US.
“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.”
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 using the talents of exceptionally popular endorsees like K-Pop stars Sistar and EXO in Skechers marketing campaigns,” said David Weinberg, COO and CFO of Skechers.”
LS Networks distributed Skechers in South Korea from 2009 to 2016.
“We’ve been very pleased with the consumer response to the Skechers product in South Korea,” added Sung Hun “Scott” Lee, previous senior GM of Skechers’ Korean distribution partner and now president of Skechers Korea Co. “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.”
Willie Tan, CEO of Skechers Asia joint ventures, said forming a JV with Skechers that combines its global expertise with the local partner’s 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”.
“We expect this will strengthen our business not only in South Korea but further synergise the business across Asia.”