Kyung Soo Huh, Willy Bogner, Ian Song, Dr. Oliver Pabst and Dr. Oliver Arndt
30 Sep. 2010
BOGNER AND COSMO & COMPANY LTD FORM JOIN VENTURE IN HONG KONGMunich-based Willy Bogner GmbH & Co. KGaA and Cosmo & Company Ltd. of Seoul/South Korea have formed a joint venture under the name “Bogner Asia” with the intention to promote the Bogner brand in the Asian market. Based in Hong Kong, the joint venture will be responsible for all sales, marketing, and communications activities as well as the strategic development of the Bogner brand in Asia from September 2010 onwards.
“We are already partially well-established in the Asian market, with a current sales volume accounting for 13% of the Bogner brand sales volume. While the brand is represented especially by the Bogner Golf collection, available at more than 35 shop-in-shops and our flagship store in Seoul, we still see tremendous potential in the world’s biggest fashion market, and particularly in China,” says Dr Oliver Pabst, member of the board of Bogner and Executive Director of Bogner Asia. “In order to further expand our market presence in the Asian market, we are cooperating with a strong partner that knows the requirements and the general conditions.”
The joint venture aims to establish the brands Sônia Bogner, Bogner (woman, man, sport) and Bogner Fire + Ice in addition to Bogner Golf, in the entire Asian market by opening new flagship stores at exclusive locations and more shop-in-shops. Furthermore, new distribution channels such as, for instance, online or home shopping, are to be established. Brand communications and control have been globally merged to support these activities especially in the key markets China, South Korea, Japan, Taiwan, Hong Kong and Macau.
The most important reason for this partnership, however, was getting closer to the Asian market: “Our strength lies in knowing the Asian market, so we can bring in our know-how into the fields of communication, sales and the development of the collections in order to perfectly adapt our market appearance to Asian requirements,” commented Kyung Soo Huh, CEO and Chairman of the Cosmo Group. “We are looking forward to working with a premium brand like Bogner, and we are confident that we will quickly reach the goals defined by both partners.”
Willy Bogner GmbH & Co. KGaA is a leading supplier of upscale sports fashion, luxury sportswear and designer fashion, founded in 1932, and is now managed by the founders’ son Willy Bogner, CEO and majority shareholder, and his wife Sônia. The company boasts a global headcount of more than 700 and in 2009 generated a sales volume of EUR 173.1m in over 30 countries with its product lines Sônia Bogner, Bogner Woman, Bogner Man, Bogner Sport, Bogner Fire + Ice and Bogner Kids as well as several licenses.
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