Giglio Group, an Italian company active in digital and e-commerce services sector, signs a distribution agreement with GF Retail, Korean company specialized in the import of luxury products. The 3-year partnership provides for the supply of luxury goods made in Italy for a value of 3 million euros for 2020, planned to grow in future years. The luxury goods market in Korea is continuously growing, with an estimated value of 12 billion euros as in Germany; the fashion market has been growing steadily since 2009 and estimates for the next five years forecast an annual growth rate of 7%. GF Retail has developed a business model that includes physical stores and online sales, manages a chain of stores, an e-commerce platform connected to the major Korean marketplaces and realizes shopping television broadcasts.
