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Tag: International

  • Safilo appoints new executive to head e-commerce

    Safilo appoints new executive to head e-commerce

    Eyewear firm Safilo has appointed Andrea Bulgarelli to the newly created role of digital transformation director, as the Dutch-owned Italian company sets its sights on renovating its e-commerce infrastructure by 2020. An e-commerce fashion veteran, Bulgarelli comes from fellow Italian firm Benetton, which he joined in 2015 as group digital business director.

    Prior to his two year stint at Benetton, Bulgarelli was pivotal in the creation of e-commerce sites at luxury fashion Max Mara from 2007 to 2015, serving as the group global digital and e-commerce director for eight years. He came to Max Mara as operations and innovation director, after two year’s experience in sales.

    He is a graduate in telecommunications engineering and has an MBA in business administration.

    In his new role at Safilo, Bulgarelli will oversee the management of all consumer-facing touchpoints including merchandising planning, direct e-commerce, digital marketing, content production and CRM – all functions that he performed, among others, at Benetton.

    His appointment underpins Safilo’s direct-to-consumer strategy currently being executed, within its industrial plan for 2020.

    “Digital initiatives are at the heart of our growth and development strategy […] thanks to Andrea Bulgarelli’s leadership, we will finally be able to accelerate our e-commerce activities and our digital transformation,” explained Safilo CEO Angelo Trocchia.

    However, Safilo’s most recent financials were far from rosy. On November 3, the group reported third-quarter revenues of €221.5 million, down 9% at current exchange rates compared to the same period in 2017.

    The situation was similar over the first nine months of the year, with revenue down 9.7% to €713.7 million, compared to €790.5 million in 2017.

    Founded in 1934 by Guglielmo Tabacchi in Pieve di Cador, Safilo Group today designs, produces and distributes prescription frames, sunglasses, sports eyewear and helmets under its own five house brands and 32 licensed brands including Dior, Fendi, Givenchy, Moschinoand Tommy Hilfiger and is owned by Hal Holdings since 2008, the Dutch investment firm which holds 37.23% of the company.

     

  • Real human call centres still preferred : research

    Real human call centres still preferred : research

    New research reveals 75 per cent of shoppers prefer live-agent support for customer service verses 25 per cent support for self service and chatbots.

    The research, from cloud contact-centre operator NewVoiceMedia, identified consumer concerns about sharing sensitive information, a lack of understanding of bots and their inability to resolve issues.

    “Chatbots can provide customers with quick answers to frequently asked questions or issues, and the survey notes the benefit of chatbots for certain interactions, such as 24-seven service,” the survey’s authors concluded.

    But when it comes to handling sensitive financial and personal information, most customers are more comfortable with a live agent, and just 13 per cent say they would be happy if all service interactions are replaced by bots in the future.

    Foremost among consumer concerns about using chatbots include:

    • A lack of understanding of the issue (65 per cent).
    • The inability to solve complex issues (63 per cent).
    • The inability of chatbots to provide answers to simple questions (49 per cent).
    • The lack of a personal service experience (45 per cent).

    While less than half of the people surveyed (48 per cent) said they would be willing to use chat bots for service – versus the 38 per cent who wouldn’t – 46 per cent also felt that bots kept them from reaching a live person.

    Banks (82 per cent) and medical services (75 per cent) were the businesses that people were least likely to want to deal with bots.

    Customers prefer live agents for technical support (91 per cent); getting a quick response in an emergency (89 per cent); making a complaint (86 per cent); buying an expensive item (82 per cent); purchase inquiries (79 per cent); returns and cancellations (73 per cent); booking appointments and reservations (59 per cent); and paying a bill (54 per cent). However, when asked about buying”a basic item”, 56 per cent would choose a chatbot over a live interaction.

    The top benefit cited for dealing with chat bots was 24-hour service.

    “When a situation becomes emotional or complex, people want to engage with people”, says Dennis Fois, president of NewVoiceMedia. “As businesses add more customer service channels, conversations are becoming more complex and higher value, and personal, emotive customer interactions play a critical role in bridging the gap for what digital innovation alone cannot solve,” he said.

    “For this reason, companies must find the right balance between automation and human support to deliver the service that customers demand. Frontline contact centre teams will continue to be the difference makers on the battlefield to win the hearts and minds of customers, and organisations deploying self-service solutions should ensure that there is always an option to reach a live agent”.

    There is a sense consumers may warm to chatbots in the future, however, given that younger respondents (aged 18-44) were more open to using chatbots overall and across the individual scenarios compared to older consumers (45-60+).

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  • GEOX appointed new leader for Asia Pacific

    GEOX appointed new leader for Asia Pacific

    Geox is a leading brand in the International lifestyle footwear Market. The success of Geox is due to the constant focus on the application of innovative solutions and technologies on the product that guarantee both impermeability and breathability. Geox technology is protected by over 60 different patents registered in Italy and extended internationally.

    Over 65% of its turnover is achieved abroad in more than 110 countries worldwide. Geox distributes its product through around 10,000 multi-brand selling points and a network of 1.157 mono-brand shops worldwide.

    Effective from today, Fillipo Gori, former CEO APAC at Roberto Cavalli, will lead the Asian expansion of the brand.

    Filippo Gori is a fashion professional with a finance and consulting background. After having worked 3 years in management consulting he joined GE Energy where he worked 3 years in FP&A. Soon after he began his journey in fashion, working for Emilio Pucci (Retail Controller), Gucci (Greater China CFO) and Replay (CEO APAC).

    In 2016 Filippo joined Vip.com as BD Director for international brands and established a profitable business in less than one year.

    In 2017 Filippo joined Roberto Cavalli, in one year and a half he opened in 3 new markets and increased the store network from 2 to 20 across Asia. In 2019 most of Asia markets will be reopened either through DOS or franchisee partnerships.

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  • Macy’s, Tmall contract completely over

    Macy’s, Tmall contract completely over

    Macy’s China stopped taking orders on Tmall this week and will close its operations by the end of the month. The US department store business said it chose not to renew the contract with Alibaba’s Tmall which ends on December 31. “We sincerely thank you for your support and love of Macy’s, and we will continue to provide services to you through the American website Macys.com,” the US retailer said in a statement.

    Just two years ago, in an interview, Macy’s China president Dustin Jones assured customers that the company would not leave China. “We will become [a] Chinese Macy’s,” he said.

    That comment followed the closure of the company’s brick-and-mortar stores in Mainland China. Macy’s subsequently closed its own China website last June.

    Since 2015, the Macy’s China business has been operated in partnership with Hong Kong-based Fung Retailing.

    Beijing-based retail analyst Liu Dingding said that Macy’s China failed because it could not keep up with the fast-changing and diversified demands of Chinese consumers.

    “The market in China is changing much faster than those in the US and Europe. These Western giants seem to react a bit slower than their Chinese counterparts,” said Liu.

    Securing a local partner was one way of ensuring success in the market – as WalMart and Carrefour’s partnerships with Tencent have shown, said Liu. That way they can localise their offer and learn from Chinese experience.

    “[Western retailers] have built up operating experience with years of success back home. But before applying this experience in their Chinese operations [they should] respect Chinese culture, hire more Chinese executives and try to adjust the way that they have operated for years back home.

    “That’s the first step to gaining a foothold in the Chinese market,” Liu said.

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  • Telenor Group CEO meets Prime Minister to discusses digitalisation and socioeconomic development

    Telenor Group CEO meets Prime Minister to discusses digitalisation and socioeconomic development

    SigveBrekke, President and CEO of Telenor Group, along with IrfanWahab Khan, CEO of Telenor Pakistan and Petter-Børre Furberg, Executive Vice President Telenor Group met the Honorable Prime Minister of Islamic Republic of Pakistan Imran Khan to discuss the growing and evolving digital ecosystem in the country and Telenor Group’s longstanding commitment to the country.

    During the meeting, Brekke shared Telenor Groups journey to becoming one of the largest telecom and digital services provider in Pakistan. SigveBrekke thanked the Government of Pakistan for its continued support for the telecom sector and for encouraging foreign direct investments into the country.In addition,theydiscussed possible collaborations to bringcontinued socioeconomic development and digitalisation for all. Brekke also highlighted Telenor’s commitment towards financial inclusion and informed the Prime Minister of incoming investment of USD 140mnas a result of the recently announcedpartnership with Ant Financial.

    The Prime Minister appreciated Telenor’s contribution in the telecom sector and said that the Government aims to develop a knowledge based economy in Pakistan and value Telenor as an important partner in developing the ecosystem that supports the Government’s development agenda.

    The Prime Minister reiterated that the Government is committed to transparency and facilitate investors and enable them take full advantage of huge potential existing in the growing economy of the country.

    “Pakistan is a key market for Telenor Group and we remain committed to empowering this nation by connecting our customers to what matters most,” said SigveBrekke, President & CEO Telenor Group, while sharing his thoughts. “We hope that the government will not only encouragebusiness-friendly policies, but will also introduce new reforms to enhance access to life-changing digital services and solutions for all.”

    “Through Telenor Pakistan’s industry-first initiatives in areas of digital products & services, financial inclusion, agriculture, health, and digital entrepreneurship, we are empowering Pakistan through robust ICT solutions,” said IrfanWahab Khan, CEO Telenor Pakistan. “We have 13 successful years to proudly look back to and aim to serve the people of Pakistan even better with all the learning we have gathered during this time. I thank Prime Minister Imran Khan for his time and am confident that his government will extend the needed support to help us materialise our shared vision of a digital Pakistan.”

    During his visit, SigveBrekke also called upon Mr. Asad Umar, Minister of Finance, Revenue and Economic Affairsand Mr. Shah Mahmood Qureshi, Foreign Minister and extended his appreciation to the Government for ensuring positive outlook and improving economic indicators that are instrumental towards attracting investment in the country. Brekke also discussed the role of telecom sector in socioeconomic uplift of the country by bringing widespread connectivity to the people of Pakistan.

    Telenor Group has been operating in Pakistan since 2005 and has made a significant impact on the socioeconomic uplift of the country. The Group has invested over USD 3.5bn, contributed over USD 2.5bn to the national exchequer since 2005 and created over 5,000 direct jobs, in addition tohundreds of thousands of indirect jobs.

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  • Bottega Veneta opens Tokyo flagship store

    Bottega Veneta opens Tokyo flagship store

    High-end Italian label Bottega Veneta is launching a new flagship in Tokyo this Saturday. The six-storey store at Ginza Chuo-Ku is the brand’s largest in the Asia region, and features men’s and women’s ready-to-wear, leather goods, handbags, eyewear, footwear, fragrances, jewellery and home decor.

    The store’s facade is composed of more than 900 metal panels similar to a motif featured on the brand’s handbag range, while the understated interior design matches Bottega Veneta’s furniture aesthetic.

    The label’s GM Claus-Dietrich Lahrs said in a statement that the Japanese clientele is important and extremely loyal – adding that Japan is one of the world’s leading markets for Bottega Veneta.

  • VW new sedan model launched

    VW new sedan model launched

    Volkswagen launched its sleek new midsize Arteon sedan in Korea on Wednesday with high hopes that the car will overshadow consumers’ memories of the company’s emissions rigging scandal, which was first revealed three years ago. The sedan is the last of the five cars the German automaker promised to roll out in the local market in April, when it opened up a press event to show it was back in Korea after suspending sales in 2016.

    Stefan Krapp, the managing director of Volkswagen Korea, said he is “convinced the new Volkswagen Arteon will be another best seller in the Korean market, alongside the Tiguan, Tiguan Allspace and Passat,” during the launch event. He introduced the new sedan as its “new flagship model that opens a new chapter of Volkswagen’s design language.”

    The latest sedan is positioned at the top of the carmaker’s sedan line up, even above the Passat GT, according to Krapp.

    Under its sporty-looking exterior lies a spacious interior, thanks to the Arteon’s 28.40 centimeters (11.18 inches) wheelbase, which the carmaker says is the longest among its competition. The storage space can be as large as 1,557 liters (55 cubic feet) when the backseats are folded down.

    All Arteons come with a whole package of driving assistance programs, including adaptive cruise control and parking assist as basic features, in line with the digital trend sweeping the auto market. The cars come in two trims – Arteon Elegance Premium and Arteon Elegance Prestige. The most distinct feature of the Arteon is its quality assurance program.

    Krapp said the carmaker’s utmost priority is regaining consumer trust and reaffirmed the company will not compromise on quality.

    Volkswagen’s Triple Trust Program, exclusive to the Arteon, offers a bumper-to-bumper warranty for five years or 150,000 kilometers (93,205 miles), whichever comes earlier. The program also guarantees up to 1.5 million won ($1,347) in maintenance costs when metal plating or painting is necessary after an accident. For windshield glass, side mirrors and tires, which often need to be replaced, the company will guarantee up to 2 million won in repair cost.

    “This package is the best available in the market, I would say,” Krapp said. He added that in the import car market, where consumers usually sacrifice either style or value for money, the Arteon offers both.

    “This is how we will challenge our competitors,” he added.

    Though Volkswagen had no sales at all last year, it has gradually been coming back to life thanks to the popularity of the four models it launched earlier this year: the Passat GT, Tiguan, Tiguan Allspace and Passat TSI. The automaker’s market share in the local market is still in the single digits, low compared to good days when its shares were in the double digits, but it managed to reach 5.65 percent market share this year through October and sell a total of 12,294 cars.

    Whether the Arteon will help sales is another question, as it’s a pricey product. The more affordable Arteon Elegance Premium carries 52.2 million won price tag, while the Prestige model sells for 57.1 million won.

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  • Clot x Air Jordan XIII Low release date revealed

    Clot x Air Jordan XIII Low release date revealed

    International brand and retailer CLOT’s Air Jordan XIII pays tribute to co-founder and creative director Edison Chen’s youth, which he spent between Canada and Hong Kong. Chen chose to work on the Air Jordan XIII because it was his go-to during his high school basketball career — and remains a favorite shoe.

    To honor his Chinese heritage, he drew from a recent visit to Lintong county, Shaanxi province, where the Terracotta Warriors statues have remained for more than 2,000 years.

    To replicate the oxidation of that terracotta earthenware, the CLOT x Air Jordan XIII Low uses a Sepia Stone, Terra Blush and Canteen colorway.

    The design of the padded upper mirrors the armor worn by the Terracotta Warriors.

    Subtle nods to MJ come through in the side panel, where dots on each tile appear in twos and threes. To finish it off, metallic gold CLOT and Jordan Brand logos appear on the tongue, heel and sole.

    The CLOT x Air Jordan XIII Low releases exclusively at Innersect Shanghai, China, on December 8, followed by a global release December 13 at Juice Stores.

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  • Gucci fine jewelry new style revealed

    Gucci fine jewelry new style revealed

    These are flush times for Gucci, the 96-year-old house that in recent years has become fashion’s all-conquering luxury brand. And amid booming sales, Alessandro Michele, Gucci’s creative director since 2015, has introduced the brand’s first high-end fine jewelry line, a series of extravagant styles that present the designer’s florid evocations of flea market finds as gem-encrusted treasures.

    Talking of the nostalgic inspiration behind many of his creations, Mr. Michele said, “I’ve dressed a number of women in things that were gathering dust in vintage archives — they no longer existed.”

    “That includes jewelry as well,” he added. “It’s beautiful to bring them back to life and give them importance once again.”

    At the Gucci Hub, a former aeronautical factory here where the brand opened its headquarters last year, the jewelry showroom reflects Mr. Michele’s opulent touch: red velvet-covered walls, red velvet room dividers, red velvet-topped tooled wood tables around a densely floral Oriental rug, and bright-toned velvet coffers lined in silk to showcase the designer’s well-established motifs rendered as precious jewels.

    Tigers, snakes, lions and foxes form necklaces, bracelets and rings, mirroring earlier versions that Mr. Michele created for both the costume and the mid-market fine jewelry lines at Gucci. But the new higher-end collection — which has no specific name — is more elaborate, its 25 design styles accented with a range of gemstones.

    The new line appears to expand the reach of Mr. Michele’s remarkably successful universe for his most ardent and wealthy collectors. It’s Gucci style for Cartier spenders — at a time when Gucci has pledged to go fur-free, eliminating what had been the brand’s biggest-ticket items.

    Mr. Michele, who calls himself “a passionate student of antique jewelry,” has resurrected animalier styles, like those of the midcentury American jewelry designer David Webb, and for this new collection he has employed some vintage techniques like the intricate hand engraving used to create the animals’ faces, skipping the rhodium plating now common on white gold so it retains a yellowish cast, and the use of old-fashioned raised settings for the tiny diamonds spangled across the fishtail of a ring.

    “When you see the way I combine things with each other, you perceive everything together as a new language,” he said, referring to his fashion aesthetic that mashes up the animal motifs with Chinese silks and Mexican embroideries, Renaissance gowns, Victoriana, disco drama, high ’80s glam, shades of Elton John and Dapper Dan, and more. “There’s a complete fusion of ideas. This ‘disruption’ that everyone’s talking about is found in the dialogue between these elements.”

    From the new collection, Marco Bizzarri, the chief executive of Gucci, wears a woven gold bracelet with black diamonds that is embossed with the phrase “Blind for Love” in capital letters across the top.

    Mr. Michele himself has a gold ring with a fox’s head, a large brown diamond set between its ears.

    Though the pieces look like styles that, in their antique forms, were made for women, in the Gucci context, anyone can wear them.

    “Clothes, like jewelry, don’t have very revolutionary roots, meaning that what’s revolutionary is the way you wear a piece of jewelry,” the designer said.

    So far the collection, with prices that mostly range from 15,000 euros to 70,000 euros (US$17,900 to US$83,500), has been offered only to favorite clients through private sales in Japan, China and the United States and private appointments that began in July.

    Gucci refers to the pieces, which are not high jewelry (typically starting in the $100,000 range and going into the millions), as “medium-high,” or as “unique pieces” when it repeats designs using different gems.

    However, the brand says it is considering a move into the bigger stones and larger price tags of true high jewelry for its next collection.

    Gucci is not the first fashion house to enter the upper echelons of jewelry.

    Chanel, Dior and Louis Vuitton have all made it big business, as the high jewelry market has flourished through and beyond the economic downturn of the last decade.

    And the brand’s fortunes have been growing at a clip that has shocked industry watchers.

    Kering, its parent group, reported that Gucci’s revenue soared 42 percent to €1.5 billion in the three months to the end of September. And its biggest boost has been coming from millennials, who, Kering says, account for at least half of its 2017 sales thus far.

    “The new generation is going to want a more modern jeweler,” said Maurizio Pisanu, the house’s director of jewelry merchandising. “So it’s up to the brand that realizes that first, and Gucci already had the right intuition two years ago — to break the rules.”

    Gucci has hired its first staff gemologist to search for stones worldwide and maintains a jewelry workshop with about 30 goldsmiths and stone-setters near Milan.

    All of the brand’s existing fine jewelry and now most of its high-end fine jewelry pieces are made there, with some help from an external atelier in Valenza, a center of Italian jewelry fabrication about 60 miles to the south.

    According to the brand, sales of the initial pieces have been brisk (although it won’t provide specifics).

    So if the collection does expand, Mr. Michele’s antique-tinged, everything-is-precious aesthetic might disrupt the higher stratospheres of the jewelry sector in the way that he has already reset Gucci and the fashion desires of a vast public.

    The collection has arrived at a moment when the codes of high jewelry are in flux — important stones are becoming more difficult to find, and a new generation of customers is more interested in showing off wearable (and possibly recognizably branded) design than owning the special occasion gem-encrusted parures of the past.

    Mr. Pisanu said design-driven jewelry customers “benefit a brand like Gucci, where jewelry isn’t our core business but we have the ability to make high-quality jewelry like the other brands — and with a different aesthetic that’s much more innovative than what a classic brand would ever dare to make.”

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  • Chanel to stop using exotic skin in its collection

    Chanel to stop using exotic skin in its collection

    Ahead of its pre-fall 2019 Métiers d’Art show in New York’s Metropolitan Museum of Art, Chanel has said it will “no longer use exotic skins in [its] future creations”. The exotic skins in question include crocodile, lizard, snake, stingray and fur, of which Chanel uses very little.

    The decision is down to the fact it is becoming increasingly difficult to source skins that meet the house’s quality and ethical standards. “There is a problem of supply and that was not Chanel’s business anyway,” Bruno Pavlovsky, president of Chanel fashion and president of Chanel SAS, commented. “We did it because it’s in the air, but it’s not an air people imposed to us. It’s a free choice.”

    The brand’s attention will shift to the research and development of materials and leathers generated by “agri-food” industries.

    “The future of high-end products will come from the know-how of what our atelier is able to do,” Pavlovsky continued. It will, however, take time for existing goods containing exotic skins to leave Chanel’s distribution network entirely.

    Chanel is the first luxury brand to join labels, including Asos, Nike, H&M, Puma, Arcadia Group and L Brands, which have already banned exotic skins from their product offering.

    The likes of Armani, Coach, Versace, Michael Kors, Gucci, Burberry and John Galliano have pledged to halt the use of fur, however, they have not made the leap to include skins in their entirety.

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  • “The Marc Jacobs” is launched

    “The Marc Jacobs” is launched

    A new era of Marc Jacobs is coming. Marc Jacobs is launching a new affordably priced label called “The Marc Jacobs.” The line will be introduced for pre-fall 2019. According to WWD, which saw an image from the line’s new look book, The Marc Jacobs will feature such items as colourful rugby sweaters, corduroy pants, and accessories.

    The designer also hired Russian stylist Lotta Volkova to style the look book, which was shot by Hugo Scott.

    While not much else is currently known about the new “democratically priced” label, a spokesperson for the brand did tell WWD that more images would be published in May – and that the line is part of a collection that also includes a “Runway” component.

    On Instagram, Jacobs acknowledged the existence of the new collection, writing that the image of the line was leaked.

    “Consider it a taste of things to come,” he wrote, before referring to the collections as “fantastic and fresh.”

    Although there has been no confirmation, The Marc Jacobs may resemble the former lower-priced Marc by Marc Jacobs label – which was discontinued in 2015.

    The announcement of the new brand comes after increasing speculation that the designer would leave his namesake brand amidst declining sales.

    In the beginning of the year, it was announced by Business of Fashion that the LVMH-owned company Jacobs would close its London store, as well as other European brick-and-mortar locations.

    This year the designer also announced the re-release of the Redux Grunge collection, a collection of 1993 looks that got him fired from Perry Ellis, and a collaboration with Dr Martens to create a range of limited-edition boots.

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  • KKR to acquire significant stake in V3, TWG Tea

    KKR to acquire significant stake in V3, TWG Tea

    Private equity company KKR is to invest as much as S$500 million (US$366 million) into V3, the parent of cafe chain TWG Tea and massage chair retailer Osim, to fund regional expansion. In a deal which mixes equity and financing, KKR will take an unspecified “significant stake” in V3, which is effectively valued at S$1.7 billion. V3 is the company which resulted from last year’s restructuring of once-listed Osim International after plans for an IPO were shelved.

    Keith Magnus, chairman of Evercore Asia, which advised V3 on the deal said that the investment by KKR represents a more than 50 per cent increase in enterprise value compared to when the group was taken private.

    “This is a phenomenal premium for [Ron] Sim,” said Magnus.

    Sim remains the chairman, chief executive and controlling shareholder of V3. Sim, who remains chairman, CEO and controlling shareholder of the business added in a statement: “I am extremely pleased to welcome KKR as a significant shareholder in V3. I am confident this investment will position the company for our next phase of growth, starting with the immediate expansion of TWG Tea in Japan and the US and of Osim in China.

    “We would also be looking into M&A opportunities that are earnings accretive.”

    V3 also owns the rights to retail GNC nutritional supplements in Singapore, Malaysia, the Philippines and Taiwan.

    Sim says V3’s revenue cleared S$600 million last year and profit was also up.

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  • Samsonite to support global fight against plastic bottles

    Samsonite to support global fight against plastic bottles

    Samsonite has launched an eco luggage collection for Asia made of Recyclex, a material comprising 100 per cent post-consumer recycled plastic (PET) bottles. As part of its public-facing environmental program, Samsonite has been working with one of its suppliers to create sustainable materials suitable for travel and lifestyle products. The company claims its new innovation Recyclex is as durable and reliable as Samsonite’s polyester fabric made from virgin materials, with the added benefit of reducing plastic waste.

    Subrata Dutta, president of Samsonite Asia Pacific said sustainability is a priority that runs through Samsonite’s products.

    “We recognise that travellers are increasingly aware of environmental protection and looking for ways to reduce their environmental footprint … We expect to generate stronger awareness of environmental protection in the market, and will continue to seek opportunities to maximise the use of recycled and recyclable materials in our products and packaging.”

    The products consumed more than 400,000 recycled plastic bottles in Asia. On some items, cork serves as an alternative for the polyurethane trim on the carry handles, logo, ID tag and back protection.

    Over the next two years, Samsonite will launch at least 30 product lines worldwide made from recycled materials such as rPET and recycled polypropylene.

  • Samsung to support the Olympics through 2028

    Samsung to support the Olympics through 2028

    Samsung Electronics announced on Tuesday it will extend its partnership with the International Olympic Committee (IOC) through 2028, from the original 2020 end date of the collaboration. The two parties signed an agreement at a ceremony at the Hotel Shilla in central Seoul in the presence of IOC President Thomas Bach and Samsung Electronics Vice Chairman Lee Jae-yong, as well as other executives from the company and officials from the committee.

    Samsung said it will continue as a Worldwide Olympic Partner in the wireless communications equipment and computing equipment category and promote the artificial intelligence (AI), virtual reality (VR), augmented reality (AR) and 5G features of the supplied equipment. Samsung will continue the support beyond the Olympic Games in Tokyo in 2020 through to the Los Angeles 2028 Olympics. The agreement also covers the Youth Olympic Games through 2028.

    Samsung will continue to support the IOC, the national Olympic Committee and the teams, the technology company added. The company will remain a Worldwide Partner of the International Paralympic Committee, extending a relationship that began in 2006.

    In collaboration with the IOC and the Organizing Committees, Samsung plans to continue its Athlete Phone Program. Under this program, it provides Olympic Edition Galaxy phones to all participating Olympic and Paralympic athletes.

    “As part of the agreement, the IOC and Samsung will further develop their strategic digital collaboration to engage young generations around the world in order to promote the power of sport and the values of Olympism,” Samsung said in a statement.

    “As a Worldwide Olympic Partner for the last 22 years, Samsung has been inspired by the spirit of hope, friendship and unity,” said Koh Dong-jin, president and CEO of the IT and mobile communications division at Samsung Electronics. “Through our innovative wireless and computing equipment, which supports AI, VR, AR and 5G technology, we hope to spread the excitement of the games so that fans and athletes around the world can stay connected and share in the journey to achieve greatness at the highest level of sportsmanship.”

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