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The Korea Herald

Retail & Consumer

April 01, 2024
Hollys to open 1st overseas outlet in Japan in H1

Hollys, the coffee business unit of South Korea's KG Group, said Monday it will open its first overseas outlet in Japan in the first half as part of its expansion strategy. Hollys plans to set up a business entity in the neighboring country to open the outlet at the Marui Department Store in Namba...
April 01, 2024
Korean fashion brands go global with Hyundai’s new platform

South Korean retail giant Hyundai Department Store announced Sunday the debut of The Hyundai Global, a pioneering platform designed to establish the nation’s homegrown fashion and entertainment brands in prominent international retail spaces. The new platform will offer a strategic pathway for sm...
March 29, 2024
Baemin pays out W400b in dividends to Delivery Hero

South Korea’s leading food delivery app Baedal Minjok, or Baemin, posted a 65 percent growth in operating profit last year, achieving a significant surplus for the second consecutive year. As a result, its German parent company, Delivery Hero, received some 412.7 billion won ($306 billion) in divi...
March 29, 2024
Delivery app operator Woowa's net surges 84% in 2023

Food delivery app owner Woowa Brothers posted a 84 percent on-year jump in net profit last year, allowing over 400 billion won ($297 million) in dividends to its German parent, Delivery Hero. Woowa Brothers' net profit soared to 506.2 billion won in 2023 from 275.8 billion won a year earlier helpe...
March 27, 2024
Coupang pledges W3tr to expand Rocket Delivery nationwide by 2027

South Korean e-commerce firm Coupang on Wednesday pledged to invest 3 trillion won ($2.23 billion) over the next three years to expand its signature Rocket Delivery service nationwide by 2027. The company's logistics network is expected to be drastically expanded, with eight new fulfillment center...
March 27, 2024
Coupang to invest W3tr in expanding its delivery service nationwide

Coupang, South Korea's leading e-commerce company, said Wednesday it will invest 3 trillion won ($2.23 billion) for the next three years to expand its renowned "rocket delivery" nationwide in a bid to solidify its dominance in the competitive market. The plan includes the establishment of over eig...
March 26, 2024
Chilsung Cider wins global acclaim

Lotte Chilsung Beverage Co., the beverage arm of the South Korean conglomerate Lotte Group, said Tuesday its flagship product, Chilsung Cider, has received global recognition for its high-quality taste. Chilsung Cider was honored with the superior taste award, receiving three stars, the highest di...
March 25, 2024
Paris Baguette, Pascucci partner for Italian market entry

The futuristic-themed branch could serve as a model for the Korean company's ambitions for the Italian market when it launches stores there, according to SPC Group. "Paris Baguette, a global brand operating over 7,000 stores across 11 countries, is poised to resonate with Italian tastes. We are de...
March 21, 2024
AliExpress to open bidding for logistics partner in Korea

Chinese e-commerce giant AliExpress has chosen to solicit open competitive bids in Korea instead of extending its delivery contract with CJ Logistics, set to expire in April. According to industry sources Thursday, AliExpress recently submitted bid proposals to major logistics firms here to handle...
March 21, 2024
Galleria's foreign customer sales surpass pre-pandemic levels

Galleria Department Store, one of the nation’s leading luxury goods retailers, said Thursday that its sales to customers of foreign nationality soared to all-time highs in the first two months of this year, surpassing pre-pandemic levels. Its luxury brand stores posted 10 billion won ($8.4 millio...
March 21, 2024
Emart24 says 3 outlets in Singapore temporarily suspended

Emart24, a South Korean convenience store chain, said Thursday all three of its outlets in Singapore have been temporarily suspended for preparations to better serve customers in the Asian country. A statement released by Emart24 Singapore Pte. Ltd., Emart24's master franchisor partner firm, said ...
March 20, 2024
Sephora exits Korea after years of losses

French cosmetics retailer Sephora, owned by LVMH Group, on Tuesday declared its withdrawal from the Korean market, following years of financial losses. "With heavy hearts, we have decided to cease operations in Korea. From May 6, we will gradually wind down our presence across online platforms, mo...
March 20, 2024
LVMH-owned Sephora to exit S. Korea in May

French cosmetics brand Sephora has said it will gradually exit from South Korea after failing to gain a share in competition with dominant local rival CJ Olive Young. In a statement posted on its social media accounts Tuesday, Sephora's Korean unit announced its plan for a phased withdrawal starti...
March 19, 2024
CJ CheilJedang showcases K-food innovations at US expo

CJ CheilJedang said Tuesday it participated in the 2024 Natural Products Expo West, the world's largest trade event in the food industry, to showcase its key products and K-food innovation overall. Held in Anaheim, California, the expo marked its 42nd anniversary, attracting around 3,000 companies...
March 19, 2024
IKEA to invest $327 mln for expansion in S. Korea

Ingka Group, the owner of most IKEA stores, aims to bring prices back to "inflation-adjusted" pre-pandemic levels by the end of next year. Ingka Group has 379 stores in 31 countries. The total number of IKEA stores, including Ingka's, around the world reaches 471 in 63 markets. Globally, the unli...

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EDITOR'S PICKS

Herald Corporation |CEO : Choi Jin-Young |Huam-ro 4-gil 10, Yongsan-gu, Seoul, Korea |Title : The Investor |Date of registration : 2016.06.21 |Date of issue : 2016.06.21
Publisher. Editor : Choi Jin-Young |Chief Privacy Officer & Juvenile Protection Manager : Choi He-suk |T +82-2-727-0021 |E investor@heraldcorp.com

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