Tommy Hilfiger Launches Apparel in Korea
Essay Preview: Tommy Hilfiger Launches Apparel in Korea
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Tommy Hilfiger Licensing, Inc., a wholly owned subsidiary of Tommy Hilfiger Corporation , announced today a new retail licensing agreement with SK Global Co., Ltd. for the distribution of Tommy Hilfiger products in South Korea.
Through the exclusive multi-year agreement, the Tommy Hilfiger sportswear, jeanswear and childrenswear collections will be made available in the Korean market. The mens sportswear collection will be first to debut in leading department store concessions and in freestanding stores in fall 2003, followed by the womenswear, jeanswear, and childrenswear collections.
“Korean consumers have clearly demonstrated their desire for quality sportswear such as Tommy Hilfiger. We are delighted to be working with Tommy Hilfiger in bringing this truly global brand to Korea,” said Mr. Man Gyun Kim, Executive Director of SK Fashion. Bongwoon Kim and Eunhee Lee, two prominent fashion industry executives recently recruited to SK Global, will oversee the brands launch and rapid expansion throughout Korea.
“We are very excited to launch Tommy Hilfiger in a market as important as Korea. This new marketing and distribution agreement is part of our commitment to further develop the global market strategy for the Tommy Hilfiger brand,” added Lynn Shanahan, President of Licensing at Tommy Hilfiger.
Founded in 1953, SK Global Co., Ltd. has grown over the years from a general trading company to an international business-integrating enterprise. SK Global handles over 2,000 products, ranging from textiles, clothing, petrochemicals, and commodity goods to steel, metal products, machinery, and telecommunications devices, and is a member of the SK Group, Koreas third largest company.
Tommy Hilfiger Corporation, through its subsidiaries, designs, sources and markets mens and womens sportswear, jeanswear and childrenswear under the Tommy Hilfiger trademarks. Through a range of strategic licensing agreements, the Company also offers a broad array of related apparel, accessories, footwear, fragrance and home furnishings. The Companys products can be found in leading department and specialty stores throughout the United States, Canada, Europe, Mexico, Central and South America, Japan, Hong Kong and other countries in the Far East, as well as the Companys own network of outlet and specialty stores in the United