Dec. 21 – Korea, Malaysia, Singapore, Indonesia and Thailand, made in Italy luxury goods know no bounds. Or at least, this is what Salvatore Ferragamo is trying to prove. The company is at the head of the Salvatore Ferragamo Group, one of the world’s leading players in the luxury sector, that was recently granted by Trinity Luxury Brands Holdings Ltd and Ferrinch Ltd (both wholly owned subsidiaries of Trinity Ltd) additional shares (30% to be exact) in distribution companies for joint ventures, for a total outlay equivalent to approximately $25.5 million, based on “Depreciated Net Asset Value.” The four companies involved in the transaction are Ferragamo Korea, Ferragamo Malaysia, Ferragamo Singapore and Ferragamo Thailand. In line with previous contractual agreements. the new 5-year joint venture contracts signed with each company confirms Ferragamo distribution in the strategic markets of Korea, Malaysia, Singapore, Indonesia and Thailand. The new agreement – says the company in a note – also includes a “put/call” option that can be exercised under certain conditions, to sell / acquire the remaining 20% at a price based on the “Depreciated Net Asset Value “of the four companies. By continuing the fruitful collaboration with the Trinity Group Ltd, Salvatore Ferragamo SpA now holds a market share of 80% of the companies operating in the strategic markets of Korea and Southeast Asia, where Ferragamo already has about 70 mono-brand stores.
