Carhartt's Global Expansion Through Joint Venture

How did Carhartt expand globally when they allowed Edwin and Faeh to sell their apparel in Europe?

When Carhartt allowed Edwin and Faeh to sell their apparel in Europe, they were expanding globally through which method?

Answer:

Carhartt expanded globally by choosing the option C. joint venture.

Carhartt's decision to allow Edwin and Faeh to sell their apparel in Europe through a joint venture marked a significant step in the company's global expansion strategy. Joint ventures are partnerships between two or more entities aiming to develop a business or project for profit while sharing risks.

By forming a joint venture with Edwin and Faeh for their European operations, Carhartt was able to leverage the local expertise and resources of these partners. This collaborative approach helped Carhartt establish a stronger presence in the European market, expand its customer base, and increase brand awareness in the region.

Joint ventures provide companies like Carhartt with the opportunity to enter new markets with reduced risks and costs compared to other methods of global expansion. By partnering with Edwin and Faeh, Carhartt could tap into their knowledge of the European market, navigate regulatory challenges, and build relationships with local stakeholders more effectively.

Overall, the decision to expand globally through a joint venture with Edwin and Faeh was a strategic move that allowed Carhartt to accelerate its growth, establish a foothold in Europe, and strengthen its position as a leading apparel brand in the region.