Polo Ralph Lauren to Buy Korean Retail Operations

New York-based Polo Ralph Lauren Corp. has reached an agreement to assume direct control of its wholesale and retail distribution from its licensee Doosan Corp. in South Korea, beginning Jan. 1, 2011. Doosan currently distributes Polo Ralph Lauren products through approximately 175 in-store shops and five freestanding locations throughout South Korea. Doosan will continue to operate as the companys licensee in the region through Dec. 31, 2010. The total purchase price will be approximately $47 million. The company began the development of their Asian strategy with the acquisition of its Japan operations in 2007, followed by the recent acquisition