Marc Jacobs International (MJI) and Sumitomo Corporation (SC) announced today that they have signed an agreement to establish a fifty-fifty joint-venture company in Japan.
Marc Jacobs Japan KK will be incorporated in the coming months and start operating as a distributor of Marc Jacobs lines in Japan from 01 July 2009

 

This new company will take over the existing retail network as a base for an ambitious development of "Marc Jacobs" and "Marc by Marc Jacobs" brands both in terms of sales and network development.

 

"We share the same vision of Marc Jacobs brands and we both believe in the tremendous development opportunities for our lines in Japan in the coming years. Marc Jacobs is willing to strongly increase its presence in this country where his unique and very creative universe, mixing youth, elegance and fashion is particularly praised by a very advanced clientele" said Bertrand Stalla-Bourdillon, Chairman and CEO of MJI.

 

Shigeru Ohashi, Executive Officer and General Manager of Sumitomo Corporation's Lifestyle & Retail Business Division added "Marc Jacobs is one of the most distinct and authentic brands out there in the market today, and Sumitomo is happy to announce this new relationship where we will bring our expertise in addressing a young clientele through our cable TV operations and contents. We believe that this partnership will be very successful in further increasing the value of the brand in Japan".

 

Simultaneously, LOOK Inc. announced today that LOOK Inc. and Mitsubishi Corporation (MC)'s distribution and licensing agreements with Marc Jacobs International (MJI) will not be renewed upon expiration on 30 June, 2009.

 

"I will always remember our start in Japan and our friendship with LOOK", said Jacobs.
"Japan will remain a great source of inspirations for me"

 

Bertrand Stalla-Bourdillon elaborated: "we have decided to drastically increase investments in the brand in Japan and concentrate on import, developing further the accessories still keeping a strong emphasis on ready-to-wear. We have reached the conclusion that another setup is needed. We would like to thank LOOK Inc and MC for building the foundations in Japan and for their loyalty to Marc Jacobs brands over the past 10 years".

 

 

ABOUT MARC JACOBS INTERNATIONAL
"Marc Jacobs" was created in New York by Marc Jacobs and Robert Duffy in 1984.
The brand is distributed worldwide and was launched early in Japan, reaching a network of nearly 50 stores in this country: free standing and concessions within major department stores.
Product ranges cover ready-to-wear as well as bags and other accessories which are developed under the two lines "Marc Jacobs" and "Marc by Marc Jacobs".

ABOUT SUMITOMO CORPORATION
Sumitomo Corporation is a leading general trading company with a long tradition in Japan.
The Sumitomo Corporation Media/Lifestyle Business Unit integrates a wide range of business segments in the field of media, network and lifestyle retail business.
In the network field, its brand portfolio includes Barneys Japan.