E-Land Group is planning to acquire U.S. footwear brand Supra to beef up its accessories division, sources said.
The business group is set to buy One Distribution, which runs Supra and clothing brand KR3W, for less than 100 billion won ($91.4 million). Supra is known for skateboarding sneakers and snapback hats.
“Supra is making double-digit growth since the launch in 2006, with flagship stores in New York, Paris, Tokyo and others. This will be a good opportunity for E-Land to land on the U.S., Canadian and South American markets,” industry sources said.
One Distribution is expected to be placed under American footwear brand K-Swiss and target China and Europe following completion of the acquisition. E-Land bought K-Swiss for 200 billion won in 2013.
“U.S. footwear is delicately segmented and E-Land will need a variety of shoes to meet the needs of different customer bases. The acquisition of One Distribution will be a shortcut to the Western market,” an investment analyst said.
E-Land declined to comment on the issue.
By Bae Ji-sook (baejisook@heraldcorp.com)
