Puma ends licence agreement in South Korea - footwearbiz: Leading site

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Puma ends licence agreement in South Korea

12/04/2007
 
Having failed to settle the terms of an extension to its agreement with its current licensee in South Korea, German sports brand Puma AG will serve the South Korean market directly through its 100% subsidiary Puma Korea, effective January 1, 2008. The current licence agreement will expire with on December 31.

With the new subsidiary Puma hopes to accelerate its regional expansion of its long-term company development plan. The South Korean market represents one of the largest markets for Puma’s distribution in Asia.


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