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Safilo Group strengthens Korean presence
30 Oct '06
2 min read
Premium eyewear leader Safilo Group has built up its presence in Asia through the opening of a new subsidiary in Korea. Safilo Korea Ltd, with offices in Seoul and 100% controlled by Safilo Group, will begin business on January 1st 2007.
Safilo Korea's aim is to become the country's market leader through the sale of its products in the retail channel, both in opticians' shops and in department stores.
Through its new Korean subsidiary Safilo Group expects to supply around 300 shops in its first year of activity, achieving sales of over 100,000 pairs of prescription frames and sunglasses, and to see significant development of the market in its second year (+100%) and further double digit growth in successive years.
Safilo Korea Ltd with strengthen Safilo's existing presence in Asia where it already has subsidiaries in China, Hong Kong, Japan, Singapore and Malaysia. Safilo Group is also present in further Asian countries through distributors in Thailand, Vietnam, Indonesia, Taiwan and the Philippines. These organisations, together with the Australian subsidiary and distributor in New Zealand, are managed by Safilo Far East.
“This is an important step forward in the development of Safilo” - stated Vittorio Tabacchi, Chairman of Safilo Group –“ Korea is the ninth most important economy in the world and the second strongest in the continent. The number of customers looking to buy high end luxury products is in steady growth. We will satisfy Asian tastes with specially developed collections but we will also take the good taste and refined design of “Made in Italy” to Korea”.
Safilo Korea's aim is to become the country's market leader through the sale of its products in the retail channel, both in opticians' shops and in department stores.
Through its new Korean subsidiary Safilo Group expects to supply around 300 shops in its first year of activity, achieving sales of over 100,000 pairs of prescription frames and sunglasses, and to see significant development of the market in its second year (+100%) and further double digit growth in successive years.
Safilo Korea Ltd with strengthen Safilo's existing presence in Asia where it already has subsidiaries in China, Hong Kong, Japan, Singapore and Malaysia. Safilo Group is also present in further Asian countries through distributors in Thailand, Vietnam, Indonesia, Taiwan and the Philippines. These organisations, together with the Australian subsidiary and distributor in New Zealand, are managed by Safilo Far East.
“This is an important step forward in the development of Safilo” - stated Vittorio Tabacchi, Chairman of Safilo Group –“ Korea is the ninth most important economy in the world and the second strongest in the continent. The number of customers looking to buy high end luxury products is in steady growth. We will satisfy Asian tastes with specially developed collections but we will also take the good taste and refined design of “Made in Italy” to Korea”.
Safilo SpA
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