Italian knitwear group Benetton has acquired 100% control of its Korean business and appointed its country manager Hyung Rae Cho to lead operations there.
The move is part of Benetton’s wider programme of growth and will support its expansion in Asia. Benetton has around 300 stores in South Korea, making the country the most important market outside Italy after India.
It is also part of the group’s strategy to reorganise its global structure to increase competitiveness and growth of its two brands United Colors of Benetton and Sisley.
Benetton has more than 5,000 stores globally.