Skechers inks JV with Luen Thai Enterprises in South Korea

Skechers USA has entered into a new joint venture with Luen Thai Enterprises for Korea. Through its new Korean joint venture, Skechers Korea Co will further expand the brand in one of its key international markets.

“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,” said David Weinberg, COO and CFO of the company in the company statement, adding, “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.”

“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,” added Willie Tan, CEO of Skechers Asia joint ventures.

The network of Skechers retail locations in South Korea currently includes 57 concept and outlet stores—13 of which are owned by the company. Brand’s lifestyle and performance footwear for men, women and kids is also available at major retailers throughout South Korea.

Picture:Skechers