[THE INVESTOR] LS Networks will spin off its Skechers division, it announced on July 27.
The new company, temporarily named Skechers Korea, will remain private and be solely devoted to import, distribution and sales of Skechers, a US footwear brand.
The consumer goods affiliate of LS Group will remain a public company and continue the rest of its businesses including managing brands such as Prospecs and Mont-Bell, as well as trade and real estate lease.
The due date for the physical division is Sept. 1.
By Hwang You-mee (glamazon@heraldcorp.com)