South Korean entertainment powerhouse CJ ENM Co. plans to foster the brand incubating business and promote sales through Brandworks Korea, the company said on Monday.
Brandworks Korea is a reborn entity of CJ's brand business subsidiary Artworks Korea, which will absorb CJ ENM's men's fashion brand Daniel Cremieux and living goods brands Odense and 82Villiers on Jan. 2.
The men's fashion brand Brooks Brothers was transferred through Artworks Korea last year.
Brandworks will soon take over from CJ ENM related tangible and intangible assets and personnel worth about 14.5 billion won ($11.3 million).
As a result, Brandworks will handle CJ ENM brand Brooks Brothers along with Fun Shop and Brooklyn Works of Artworks Korea.
To meet the goal of expanding its annual sales to 400 billion won within three years, Brandworks plans to expand the volume of Fun Shop and Brooklyn Works, develop offline channels for Brooks Brothers and Odense and develop more new brands in order to diversify brand portfolios.