Lotto partners with Coupang for South Korea debut
Iconic Italian sportswear brand Lotto is making its way to South Korea this spring via a new partnership with Coupang, one of the largest e-commerce companies in Asia.
Under the terms of the agreement, Coupang will serve as the exclusive distributor for Lotto in South Korea bringing a curated collection of men's and women's lifestyle footwear, apparel and accessories to consumers.
"Coupang is one of the world's fastest growing e-commerce companies and our partnership provides a powerful opportunity to quickly expand the online presence, not only for Lotto, but also for our portfolio of global brands in a key consumer market," said Stanley Silverstein, chief commercial officer of WHP Global, which owns and manages the Lotto brand.
"We look forward to working with our anchor partner, Lotto Sports Italia S.p.A., to continue growing Lotto's global footprint in new and emerging markets."
The partnership comes as South Korea is forecasted to become the third largest market for e-Commerce sales in the world, after only the U.S. and China. Currently, Coupang is South Korea's largest e-commerce player and one of Asia's leading e-Commerce companies thanks to its nearly 18 million active customers.
"Coupang is always looking to provide the best possible shopping experience for our customers, whether it's by innovating our services or expanding our ever-growing selection of products," said Coupang.
"We are excited to partner with WHP to offer the iconic Lotto brand and other high-quality apparel in Korea, and will continue seeking new opportunities to make Coupang Fashion the premier shopping destination for all our customers' fashion needs.
Lotto is well-known for its innovative performance-driven footwear, apparel and accessories, which feature the signature double diamond logo.
Founded in 1973, it is currently distributed in over 100 countries and is a major force in both soccer and tennis.
The brand has been worn by more than 40 soccer teams, over 300 professional soccer players and more than 200 professional tennis players around the world including tennis Grand Slam champions Martina Navratilova, Francesca Schiavone, Marion Bartoli and Boris Becker.
Copyright © 2023 FashionNetwork.com All rights reserved.