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Retail Asia15/04/2022

South Korea’s top two retailers — Shinsegae Group and Lotte Group — are going beyond retail to jump into the whisky and wine markets, which have been seeing rapid growth since the onset of the COVID-19 pandemic. Lotte Chilsung Beverage Co. announced in a report released early this year that it will expand its production […]

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Retail Asia08/06/2021

South Korean retailers Lotte Shopping and Shinsegae Group entered separate binding bids for eBay’s South Korean business, the retailers’ spokesmen said on Monday. eBay Korea – South Korea’s third-largest e-commerce firm with a 12.8% market share in 2020, according to Euromonitor – is on sale for what eBay hopes could be up to 5 trillion won […]

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Retail Asia24/03/2021

South Korea’s retail giant Shinsegae is reviewing ways to double its stake in Starbucks Korea from 50% to 100%, according to an industry source on Mar. 19. Shinsegae’s affiliate E-mart currently owns 50% of Starbucks Korea, while Starbucks Corporation headquartered in the US owns the other 50%. If the deal is successful, Starbucks Korea would […]

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Retail Asia18/03/2021

South Korea’s SK Telecom, retailer Shinsegae Group and private equity firm MBK Partners were among those that entered non-binding, preliminary bids for the sale of eBay Inc’s South Korean business, the telecom company, and two sources with knowledge of the matter said on Tuesday. EBay Korea operates open market e-commerce platforms Gmarket, Auction and G9, […]

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Retail Asia09/10/2020

The new Starfield Anseong, the second joint venture between Taubman Asia and Shinsegae Property, opened today in Anseong, Gyeonggi Province, South Korea. The one million square foot, modern shopping, entertainment, and dining destination is Taubman Asia’s fourth successful development project. It will serve as the primary mall for Anseong, one of the fastest-growing areas of […]

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Retail Asia15/05/2020

Shinsegae, one of South Korea’s largest retail groups, has reported its net profit fell 99.8 percent year on year as the Covid-19 crisis effectively shut down the nation’s tourism industry and caused local consumers to stay home. The conglomerate, whose subsidiaries include E-mart big-box stores, convenience stores, homewares, fashion, beauty and a duty-free retail division, […]

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Retail Asia10/01/2020

South Korean department store franchise Shinsegae has relinquished its claims to the K-pop boy band BTS brand name following a threat of legal action by the band’s representatives. “We renounce all trademark rights related to BTS,” read a statement from the firm released this week. “Shinsegae supports the activity of BTS, which leads the Korean […]

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Retail Asia08/01/2020

Shinsegae Department Store, one of South Korea’s leading retailers, said Tuesday that its outlet in Gangnam, an affluent area in southern Seoul, reported 2 trillion won (US$1.7 billion) in accumulated sales last year. It marks the first time for a single-department store branch to achieve the 2 trillion won milestone, the company said. Lotte Department […]

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Retail Asia03/10/2019

South Korean retail giant Shinsegae is developing a cashier-less grocery-store modeled on the Amazon Go concept. The brand’s first automated store – to be branded Emart24 – will open at the company’s data centre in Gimpo in Gyeonggi Province as a pilot while the model is refined before being launched in a more high-profile location. […]

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Retail Asia27/05/2019

Shinsegae International has launched a new coworking space in Seoul it expects will boost its retail business. The new 278sqm “Scale Up” space in Cheongdam-dong is targeted at startups in the lifestyle-related industry. With seven offices and meeting rooms, it is loosely modeled on the firm’s earlier coworking space S.I Lab for fashion enterprises. “Scale […]

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Retail Asia26/02/2019

Shinsegae Group will launch a brand new entity that specializes in e-commerce next month in an effort to become Korea’s answer to Amazon. Titled SSG.com, Choi Woo-jung, vice president of Shinsegae’s e-commerce division, will be the CEO. “[Through the new entity], we hope to maintain the existing SSG.com brand and maximize brand power by raising […]

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Retail Asia04/02/2019

For many in Korea, Lunar New Year is a time to meet relatives and exchange elaborately-packaged gift sets that could contain anything from fruits and raw meat to cans of Spam. But one side effect to this approach to gift giving is the excessive waste – especially those originating from gift set packaging – which […]

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Retail Asia01/02/2019

Major South Korean travel retailer Shinsegae Group is set to launch an in-house developed cosmetics line, Yunjac, into the duty free channel at its Myeong-dong store in the capital city, Seoul. An ambitious sales target has been set for the brand. The opening on 2 February of an independent Yunjac cosmetics area adds to existing […]

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Retail Asia16/01/2019

South Korean retail giant Shinsegae is launching an independent Yunjac cosmetics store at its Myeongdong duty free outlet. The cosmetics shop, which will open on February 2, retails Asian herb-based skincare products. Launched in October last year, it is Shinsegae’s first in-house cosmetics brand, targeting Chinese millennials. A statement from the company said the opening […]

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Retail Asia10/12/2018

South Korean retailer Shinsegae International aims to promote South Korean designer brands through a new online store. The company says ‘Select Shop’ will specialise in South Korean designer brands, on its S.I.Village online shopping portal. Select Shop accommodates 30 designer brands for clothing, bags, and footwear. “Select Shop will serve as a new channel for […]

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Retail Asia10/12/2018

Fortnum & Mason Asia sales are soaring, prompting the UK luxury-food retailer to plan more stores. In Hong Kong, the chain achieved a 55 per cent increase in sales in the year to July, helping it book a sixth consecutive year of double-digit sales and profit growth. Two new stores are now trading in South […]

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Retail Asia07/12/2018

Starfield, a shopping and theme park franchise operated by South Korean retail giant Shinsegae Group, has opened the country’s first ‘dog lounges’ for customers and their pets. The dog lounges offer specially designed sofas for pets as well as their owners, restrooms for pets, and dog hooks where customers can temporarily leave their pets when […]

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Retail Asia07/12/2018

South Korean retail giant Lotte opened this week a new premium outlet in Giheung, Gyeonggi Province – the second-largest among its branches nationwide and the latest addition to large-scale malls launched by retailers here in hopes of raising offline sales. Lotte is pinning hopes on the latest outlet’s location, citing three highways and five major roads passing through […]

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Retail Asia21/11/2018

Korea’s duty-free sales are likely to set a new annual record this year despite Chinese group tour traffic not having fully recovered. According to the Korea Duty Free Shops Association, duty-free store operators made $1.44 billion in October, a 28.6 percent increase year on year. This takes Korea’s total duty-free revenue between January and October […]

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Retail Asia02/11/2018

Shinsegae has secured investment worth 1 trillion won ($877.8 million) to build a separate company dedicated to its online business, finally giving wings to Vice Chairman Chung Yong-jin’s ambitious plan to create a “Korean version of Amazon.” Shinsegae said Wednesday that it succeeded in attracting funds worth 1 trillion won from two global private equity […]

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