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Laufenn Adds Another Success Story to Hankook Tire‘s Footprint in Global Automotive Market
- - Laufenn participates in Reifen 2016 highlighting the brand’s successful strategic globalization endeavors
- - With continuous efforts to increase global presence, Laufenn meets diverse lifestyle needs of global consumer
May 24, 2016 (Seoul, Korea) – The new global brand Laufenn will participate in ‘Reifen’, the world’s leading trade fair for tires in Essen, Germany from May 24th to 27th. Following the participation in 2015 SEMA Show, Laufenn continues to expand global presence along with its successful strategic globalization efforts.
Laufenn represents both symbolic and tangible proof point of Hankook Tire’s vision for growth in the global automotive market. It is born in pursuit of simplicity, dedicated to providing an optimized performance and good driving experience. The brand provides well-rounded products for smart and sensible consumers to fit well with a variety of lifestyle needs.
Following its first U.S. launch in 2014, Laufenn has successfully debuted in the global market by continuously expanding its dealer base. Laufenn was introduced in 19 countries including North America, Latin America, China, Middle East and South Asia in 2015, adding Europe in 2016. Now, the brand is available in 47 countries. Under the strategic plan to increase brand portfolio, Laufenn aims to achieve successful globalization, expanding its market base to 70 countries by the end of 2016.
As seen in its market expansion, Laufenn showed notable performance in sales as well. As the sales in Europe started in 2016, Laufenn is projected to mark 400% growth compared to last year coupled with continuous growth in U.S and China.
Seung-Hwa Suh, Vice Chairman and CEO of Hankook Tire said, “Laufenn has become a strong global brand with accelerated growth in global automotive market.” He added that “Laufenn continues to reach our customers by offering the most sensible and reliable value to meet the diverse lifestyle needs with superior technology and driving experience.”