New Balance has entered into an exclusive 11-year Korea distribution agreement with E-land, also known as The Group, an integrated fashion and retail company in Korea, as part of the company’s plan to expand its presence in key international markets.
The distribution agreement commences on January 1, 2010 and will include New Balance product distribution and a license to design and produce New Balance Lifestyle apparel.
“New Balance is proud to partner with The Group, a market innovator and leader in the fashion and retail business in Korea.” says Rob DeMartini, President and CEO, New Balance. “This distribution agreement demonstrates our strong long-term commitment to achieving our business growth goals in Korea.”
Key New Balance marketing initiatives planned in Korea for 2010 including the Total Fit marketing campaign, support for major marathons and sponsorship of more than 30 running clubs across the country. New Balance will also open a New Balance Experience Store in Korea in 2010. The company currently has 187 points of sales in Korea and plans to increase this to 280 by 2012. New Balance has had a presence in the country since 2000.
