Through a new three-year sales and distribution deal with J. Roseroco New York Co., Vera Wang International is bolstering its retail presence in Seoul, South Korea.
As part of an ongoing expansion, the designer label plans to open nine retail outposts. Projected retail sales for this three-year stretch are $24 million, according to Susan Sokol, president of apparel for Vera Wang.
A freestanding ready-to-wear store is scheduled to debut late next year in the Chungdam Luxury area where Prada, Dolce & Gabbana, Louis Vuitton and other high-end stores already have units. In addition, a three-walled rtw store has opened in the Galleria East department store, and three others will debut at Samsung Plaza, Hyundai and Shinsegae by next spring.
Plans are also in place to roll out two Lavender Label shops next year and two more in 2010 at the Galleria West, Samsung Plaza, Hyundai and Shinsegae.
Vera Wang has developed a following for both labels since it started selling them through J. Roseroco's freestanding stores two years ago, Sokol said. Now the company aims to build on that and boost international sales, which account for 40 percent of its total business. Sales in Asia comprise 25 percent of that figure, said Sokol, adding, "Clearly, Asia is a strong and important market for our product."
Isabella Um, chief executive officer of J. Roseroco New York, concurred. "We have been working with the Vera Wang collections here in Korea for the past few seasons, and there has been an overwhelmingly positive response from customers," she said.
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