Korea's sneakers shop Kasina gets funding to advance into global market

[Source: Kasina]

Private equity firm, Ark & Partners, will become the second-largest shareholder of Kasina, the No.1 select shop for sneakers in Korea, through 40 billion won ($30.73 million) worth ownership in the sneakers shop.

According to the investment banking industry on Thursday, Ark & Partners will sign a stock purchase deal with Kasina. With the investment, the private equity firm will acquire 40 percent of the brand’s stake to become the second-largest shareholder. Its founder and CEO Lee Eun-hyuk will command management as the largest shareholder.

Kasina, founded in 1997 by former skateboarder Lee, has released sneakers in collaboration with Nike. The brand with four offline stores in Seoul and Busan is the only sneakers shop in Korea with a partnership with Nike. It also operates an online platform.

The deal with Ark & Partners is the first outside capital Kasina receives. The private equity firm is said to be betting on Kasina’s potential to become a global brand. Kasina plans to go global with the new capital.

[ⓒ Maeil Business Newspaper & mk.co.kr, All rights reserved]