Itochu Corporation has signed an agreement for the master license rights of Ocean Pacific, a U.S. sports brand, with Woosung I.B. Co., Ltd. of Korea, and will launch this brand in the Korean market from the spring/summer 2017 season.
In launching the brand in the Korean market, Woosung will offer a broad lineup of apparel and accessories, including marine sports products, beachwear and street wear tailored to various lifestyles, targeting men and women in their 20s to 40s.
Utilizing its rich experience and know-how, Woosung will promote the Ocean Pacific brand through its diverse sales channels, including marine sports shops, department stores and e-commerce. It will also seek to increase brand recognition in the Korean market by sponsoring various events and focusing its PR activities on SNS and other media.
Woosung plans to open the brand’s flagship store in Seoul in 2018, and aims to achieve sales of 20 billion won (approximately 1.8 billion Japanese yen) in five years.