Tuesday, May 15, 2012: 09:00:34 PM

Global News

E-Land Acquires Italian Fashion Brand—Coccinelle

E-Land Group, a South Korean multinational retailer will take over the Italian fashion brand, Coccinelle, and establish its presence in the Asian fashion market. E-Land will purchase Italyís Marialla Burani Fashion Groupís fashion brandóCoccinelle, which is a maker of leather goods and deals in a vast range of womenís products such as bags, footwear, purses and fashion accessories.

The company declined to reveal its takeover prices. Currently, Coccinelle runs around 1,300 stores in 28 nations and has seven outlets in South Koreaís major departmental stores. E-land group, which is seeking to expand its overseas market, considers this takeover to be a strategic step forward for the organisation to increase its presence in emerging markets such as China. The South Korean conglomerate has a presence in retail, hospitality, construction and fashion apparel businesses. E-landís current worldwide operations are run through E-Land World, whose area of operation spans China, England, India, Italy, Sri Lanka, United States and Vietnam.

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