Mulberry takes ownership of South Korea business - leatherbiz: Leading Leatherbiz

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Mulberry takes ownership of South Korea business

29/07/2019
UK-based luxury brand Mulberry has acquired all of the share capital of the joint venture that oversees its business in South Korea. This means Mulberry Korea is now a wholly owned subsidiary of the group.

It paid a total of £1.3 million for the remaining 40% of this business, which was previously held by local partner SHK Holdings Limited. It brings the group’s overall investment in Mulberry Korea to £4.4 million. 

Making this announcement, Thierry Andretta, CEO of Mulberry, said: "Over the last eighteen months, we have recruited a new management team and taken day to day control of the business in South Korea, an important market for luxury goods where the Mulberry brand has significant growth potential. Taking full ownership of our business marks an exciting development in advancing our international omni-channel and digital strategy."

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