MILAN – Italy’s Aeffe SpA has signed a five-year franchising deal for the distribution of its Alberta Ferretti and Philosophy by Alberta Ferretti brands in Korea.

The exclusive agreement with Korean firm SE International includes the opening of two Alberta Ferretti shop-in-shops, one of which will open in spring 2010, and 10 Philosophy units, two of which will bow in spring 2009, Aeffe said.

“[The agreement] allows us to consolidate the direct presence of two of our strategic brands…in a country with high growth potential,” Aeffe president Massimo Ferretti said in a statement.

For complete coverage, see Thursday’s WWD.