Posted 28 Jul 2010
People teaching English in South Korea may see their students wearing designer clothes from Polo Ralph Lauren as it plans to expand its business.
The company has assumed direct control of its businesses in South Korea in order to provide continuity in the brand across Asia.
It has reached an agreement with the Doosan Corporation, which currently runs 175 shop-in-shops and five stand-alone stores in the country.
Polo Ralph Lauren will take control of its stores in South Korea from January 2011 and the firm has paid its licensees £30 million in total.
Ralph Lauren, chairman and chief executive officer of the company, stated that the firm wants to expand its international presence.
He said: “South Korea is one of our largest markets, and has always been an important territory for us.
”South Korean consumers have developed a strong appreciation for our iconic lifestyle sensibility and we are excited to build on this success."
Therefore, people teaching English in Asia next year may see more Ralph Lauren stores opening across the area.
Burberry also recently announced that it would be taking control of all its stores in China and that it will open ten new shops.
Category: Asia, Living Abroad
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