Safilo is creating a joint venture in South Korea, in which it will have a 51 percent stake, with a local company, Parma International. Safilo's existing distributor in the country, Seeone, will continue to manage the distribution of Dior and Fendi with a focus on optical shops and department stores. The joint venture will also distribute the two brands. Safilo noted that the decision will ensure the “continuity of the business” while guaranteeing “extra resources” provided by the joint venture. Safilo pointed out that it currently has a “solid business” with its Dior and Fendi lines in the country and a strong presence in the Korean duty-free segment, which is currently managed by its global travel retail organization and its local agents. Parma is active in the eyewear and sporting goods sectors and is expected to develop new distribution channels together with marketing and digital communication services. It is expected to enable Safilo to expand in optical retail stores, sports shops, online shopping malls, shop-in-shops and premium golf clubhouses. The joint venture will distribute all of Safilo's brands with a focus on Hugo Boss, Jimmy Choo, Max Mara, Tommy Hilfiger, Polaroid and Carrera. Another key project is the development of the Smith brand in the sporting goods channel.