Mulberry takes full ownership of its South Korean business
Luxury brand Mulberry has acquired the 40% stake in its South Korean business that was previously held by its local partner, SHK Holdings.
The move means that Mulberry now has full ownership of Mulberry Korea. It has also invested an additional £1.3 million in the business.
During the last 18 months Mulberry has recruited a new management team to take day-to-day control of Mulberry Korea. It also made a previous investment of £3.1 million in August 2018.
Thierry Andretta Mulberry chief executive, said: “” We would like to thank our longstanding partner, SHK, for its invaluable contribution in developing Mulberry in South Korea, our second biggest retail market globally. Taking full ownership of our business marks an exciting development in advancing our international omnichannel and digital strategy.”
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