NHNCommerce Tag

MILAN — Italian luxury multibrand retailer Coltorti has a latest partner. NHN Commerce, a worldwide distributor and licensee of brands in the style and wonder sector in South Korea, has acquired a majority stake within the family business, which was established in 1934 in Jesi, in Italy’s Marche region. Details on size of the stake haven't been disclosed, however the South Korean group subscribed to a ten million euro capital increase of Ikonic Srl, which is Coltorti’s parent company. Maurizio Coltorti, who represents the third generation of the founding family and who has led the international expansion of the business, will retain “a big minority stake,” based on the corporate, in addition to the role of director. Managing director Riccardo Bilancioni can be...