Luxury fashion brand Thom Browne will establish a new company in South Korea, officials from Samsung C&T Corp. said Friday, in a move to take stronger control of its business in the country.
Ermenegildo Zegna NV, an Italian fashion house that owns the brand, will establish a new company called Thom Browne Korea on July 1, it said.
Thom Browne will directly manage its business in South Korea, with external support from Samsung C&T in the distribution and management of 17 brand stores in the country.
Samsung C&T, the trading and construction arm of Samsung Group, was the exclusive South Korean distributor of Thom Browne for the past 12 years.
“The form of the contract may have changed (between Samsung C&T and Thom Browne), but our partnership will remain unchanged,” said an official from the Korean company.
The namesake brand known for tailored suits and its signature four stripes has been growing by double digits in sales every year since entering South Korea in 2011, an official from Samsung C&T said.
Samsung C&T did not provide the exact figures, citing an industry practice.
The story was originally published on Korea Bizwire.