Zurich, Switzerland (PRWEB) March 15, 2005
MCM Products AG, the German brand noted for luxury handbags, luggage and other fashion lifestyle accessories, today announced a worldwide strategic partnership to develop and re-launch MCM brand worldwide with Sungjoo Design Tech & Distribution Inc. (SDD) of the Republic of Korea. The agreement builds on SDDÂs success as an exclusive producer and distributor for Korea and some parts of Asia since the early nineties. SDD has entered a global strategic partnership by invitation of MCM Holding AG, the trademark owner, in which SDD will become the major shareholder of MCM Products AG.
Sung Joo Kim, President and CEO of SDD, and to be nominated chairperson of the company, stated ÂWith MCMÂs heritage combined with SDDÂs management and methodology, the goal of the global strategic alliance is to reposition MCM worldwide as a fashion leader, remaining a German Fashion house, to provide luxury clients with up-scaled products by integrating todayÂs technology both in design, quality, materials and function.Â
As a cornerstone of this alliance, a new management team along with an internationally renowned design team has been brought in to lead the company in pursuit of this repositioning. Further to this Mr. Ralph J. Polese, former senior executive of GUCCI Group, has joined this new alliance as President and CEO. Mr. Polese will seek to use his vast experience in both retail and wholesale, having worked for MacyÂs New York for eight years and GUCCI, in various retail and wholesale positions worldwide over eighteen years, to lead the company to the successful re-launch of the brand.
MCM sees the next two years as a building phase to put the infrastructure in place to expand their presence into extended parts of Europe, Asia and the US. The company presently has boutiques in China, Japan and Korea, as well as stand-alone and multi-brand stores in Europe.
ÂThe challenges before us will be many, we will need to be aggressive in our strategy, swift in re-capturing the market and mindful of what is the existing business that we have,Â said Ralph J. Polese, ÂWe believe that we will achieve our goals as we work together with our partners throughout the world to make MCM truly a global fashion brand again.Â
According to the current shareholders of MCM Holding AG, they expressed their excitement of the entrance into this alliance with SDD, which is widely acknowledged by industry experts as a visionary leader in adherence of the brand assets with extensive experiences and tools for excellent retailing. ÂOur heritage and business relations in this industry, together with SDDÂs advanced technology, marketing, and creativity, is a testament to our commitment to nurturing creative development to deliver more enhanced and diverse products to our consumers, as well as grow our business. We are thrilled to see this development get underway.Â
Sungjoo Design Tech & Distribution (SDD) Inc., along with Sungjoo International (SJI) Ltd., the one of the major luxury-goods manufacturer and distributor in Korea, have exclusive rights to sell luxury brands such as MCM, Marks & Spencer, LuLu Guinness, and Billy Bag in South Korea. SDD has been widely recognized for its successful previous operation as the sole franchisee of GUCCI, Sonia Rykiel, and Yves Saint Laurent in Korea.
MCM designs, produces and distributes personal luxury items including Leathergoods, Accessories, Ready-to-Wear, Watches, Eyewear, Fragrance, and lifestyle accessories. MCM presently supplies its products throughout Europe, Asia and Japan via directly operated stores, licenses and wholesale distribution.
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MCM Products AG
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