Shoebox New York (Shoebox), a top women’s multi-brand retailer for luxury footwear, handbags and accessories, and its parent company NexCen Brands, Inc. announced the signing of a master franchise agreement in South Korea. The Shoebox expansion leads the first entry for this franchise globally. The agreement with Magneato International, Inc. is for a minimum of 20 stores over a 25-year term.
‘We are very excited to be the first to sign a global agreement for the Shoebox concept’ said Scott Cho, CEO, Magneato International, Inc. ‘In conjunction with the initial entrance of Shoebox into South Korea, this is a giant step towards the eventual expansion into the other lucrative high-end luxury Asian Markets. We look forward to our continuing relationship with NexCen Brands.’