[THE INVESTOR] Italian luxury fabric manufacturer Alcantara said on Nov. 12 it will increase partnership with Korean companies as it moves to expand its presence globally.

The firm has been making inroads into the Korean market for the past two to three years through its collaboration with local sofa brand Torre. It has also been collaborated with major automakers such as Kia Motors.

“In general terms, we are facing good opportunities in the Korean market. This is a market that has a very interesting potential, even though it is not as big as China,” Alcantara Chairman and CEO Andrea Boragno said during a press conference in Seoul.

“The consumers are pretty much educated, they like quality, they like brand, they like ‘made in Italy,’ so we are facing good opportunities to grow in the market,” he said, adding that more collaboration with local fashion brands are being planned.

Boragno said the company is committed to increasing its brand awareness globally.

“When we approach partners in the Korean market, such as Hyundai, we have to be able to explain that our brand is also present in China, Japan and the US, which are all important markets for their business,” he said.

The company said it aims to spend some 300 million euros (US$340 million) over the next five years to double its production capacity.

By Song Seung-hyun and newswires (ssh@heraldcorp.com)