Shoebox steps into South Korea
Having recently announced new master franchise agreements for its athletic footwear retailer The Athlete’s Foot in Sweden and Qatar (see www.footwearbiz.com February 25), Nexcen Brands Inc. is now stepping up the expansion of its women's multi-brand retailer for luxury footwear, handbags and accessories, Shoebox New York, with the company’s first overseas branches.
The company has marked the retailer’s first foray outside of the USA with the signing of a 25-year master franchise agreement with Magneato International, Inc. in South Korea, under which a minimum of 20 stores will be opened.
"We are very excited to be the first to sign a global agreement for the Shoebox concept" said Scott Cho, chief executive of Magneato. "In conjunction with the initial entrance of Shoebox into South Korea, this is a giant step towards the eventual expansion into the other lucrative high-end luxury Asian Markets. We look forward to our continuing relationship with NexCen Brands."
Founded in 1954, Shoebox sells high-end goods from designers such as Jimmy Choo, Stuart Weitzman, D&G, Giuseppe Zanotti, Marc Jacobs, Chloe, Casadei, Salvatore Ferragamo, and Michael Kors.
