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Safilo Sets Up South Korean Joint Venture

MILAN — Italian eyewear manufacturing company Safilo has set up a joint venture with South Korean’s Parma International, a group active in the eyewear and sport goods sectors. As part of the joint venture, Safilo will own 51 percent of the newly formed company, which will distribute the collections developed by the Italian group in the South Korean market. “We are committed to building a solid, profitable and longterm business in South Korea, a market that holds strategic importance for Safilo at a global level, both for its domestic market and for its role as a trendsetter in design for the whole world,” explained Angelo Trocchia, chief executive officer of Safilo Group. “Parma International’s experience in distribution and knowledge of the local wholesale and retail market make them an ideal partner with whom to develop our longterm growth strategy.” Sangken Park, ceo of Parma International, highlighted that the two companies share the same “vision and approach, and I am sure that the creation of this joint venture will enable us to strengthen and accelerate our respective businesses.” The eyewear manufacturer’s collections were already distributed in South Korea through local partner Seeone, which will continue to manage the distribution of some of Safilo’s brands, to

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