SK Networks Co. Ltd., a $17 billion Seoul-based global marketing company, has acquired Obzee Co. Ltd. and its affiliate brands Y & Kei and Hanii Y.
With a $60 million, five-year investment plan, SK Networks plans to bolster marketing and merchandising for both labels, which were started by the husband-and-wife design team of Hanii Yoon and Gene Kang. The brands generate $100 million in turnover and $10 million in profits annually. The designers, who retain their titles as creative directors, will relocate from Seoul to Manhattan, where SK Networks will open a design center to focus on broadening the pair's global marketing efforts.
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