ID :
183243
Fri, 05/20/2011 - 05:07
Auther :
Shortlink :
https://oananews.org//node/183243
The shortlink copeid
E-Land, U.S. firm form joint venture in China
SEOUL, May 20 (Yonhap) -- E-Land Ltd., a leading South Korean fashion retailer, said Friday that it has established a joint venture with U.S. fashion label Kate Spade to foray into the Chinese market.
Kate Spade China, a 50-50 joint venture between E-Land and Kate Spade, plans to do business starting next month in China, E-Land said in a statement.
The two companies have invested 10 billion won (US$9.2 million) in the joint venture each, E-land said.
Kate Spade, established in New York in 1993, produces clothing, shoes and women fashion accessories.
E-Land predicted that the joint venture will create a synergy effect via the combination of its sales network in China and products of Kate Spade.
E-Land, which operates 3,750 outlets in China, posted 1.16 trillion won in sales last year in the world's most populous country.
Kate Spade China, a 50-50 joint venture between E-Land and Kate Spade, plans to do business starting next month in China, E-Land said in a statement.
The two companies have invested 10 billion won (US$9.2 million) in the joint venture each, E-land said.
Kate Spade, established in New York in 1993, produces clothing, shoes and women fashion accessories.
E-Land predicted that the joint venture will create a synergy effect via the combination of its sales network in China and products of Kate Spade.
E-Land, which operates 3,750 outlets in China, posted 1.16 trillion won in sales last year in the world's most populous country.
