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The Korea Herald

Retail & Consumer

October 23, 2018
Philip Morris launches new IQOS devices in Korea

[THE INVESTOR] Philip Morris Korea on Oct. 23 unveiled two new versions of its heat-not-burn smoking devices -- IQOS 3 and IQOS 3 Multi. “Based on customer feedback, we improved features like performance, design and durability,” Philip Morris Korea Managing Director Chong Il-woo said during a p...
October 23, 2018
YG invests W4b in M Corset

[THE INVESTOR] The investment arm of Korea’s leading entertainment powerhouses YG Entertainment has invested 4 billion won (US$3.52 million) in apparel firm M Corset, according to sources on Oct. 23. YG Investment has invested by buying convertible bonds issued by M Corset. Established in 1999,...
October 22, 2018
Duty-free shops post record sales despite drop in Chinese tourists

[THE INVESTOR] Korean duty free shops saw their sales reach an all-time high in the January-September period of this year despite a drop in the number of Chinese tourists, data showed on Oct. 22. According to the data compiled by the Korea Duty Free Shops Association, its members raked in a wh...
October 22, 2018
Starbucks Korea adds 300 cashless stores

[THE INVESTOR] Starbucks Korea announced on Oct. 22 that it will start cashless operations at 403 outlets here, adding 300 more to the current 103 such stores. In April, the company started test running cashless operations at three of its branches and expanded the system to 100 more outlets in Ju...
October 22, 2018
Mirae consortium fails to sell majority stake in Coffee Bean

[THE INVESTOR] A consortium led by Mirae Asset Global Investments, Korea’s largest asset management firm, has failed to sell a majority stake in Coffee Bean & Tea Leaf, according to industry sources on Oct. 22. The consortium had picked Morgan Stanley as the deal manager in August. Since then, i...
October 19, 2018
SKINFOOD put under court receivership

[THE INVESTOR] A local court on Oct. 19 decided to place Korean cosmetics maker SKINFOOD under court receivership. The ruling came after SKINFOOD filed for court receivership on Oct. 8 due to huge accumulated losses as it lacked liquidity to pay back around 2.9 billion won (US$2.55 million) loan ...
October 19, 2018
SK Networks denies rumors of acquiring Coway

[THE INVESTOR] SK Networks, the nation’s second largest car rental provider, on Oct. 19 denied news reports that it plans to acquire water purifier company Coway. “We have never considered acquiring Coway. The rumors that one of our affiliates will acquire the firm are not true,” an SK Network...
October 19, 2018
Amorepacific expands biz in Australia, New Zealand

[THE INVESTOR] Korea’s cosmetics giant Amorepacific Group said on Oct. 19 it has launched one of its brands in Australia and New Zealand as the company moves to expand its presence in the overseas market. Products of Amorepacific’s luxury brand of the same name are now available at 44 MECCA ...
October 18, 2018
BTS renews contract with Big Hit Entertainment

[THE INVESTOR] Big Hit Entertainment said on Oct. 18 that seven-member K-pop boy band BTS that is making waves globally has renewed its contract. “We signed a seven-year contract with BTS based on our existing trust and affection,” Big Hit Entertainment informed its shareholders. The band that...
October 18, 2018
SKINFOOD sued by franchisees for seeking court receivership

[THE INVESTOR] Korean cosmetics maker SKINFOOD said on Oct. 18 that four of its franchisees have filed a lawsuit against it for seeking court receivership. “We are currently having talks with our franchisees to find a solution,” a SKINFOOD official said in a statement. Despite the company’s e...
October 17, 2018
Ediya Coffee plans second shot at Chinese market

[THE INVESTOR] Ediya Coffee announced on Oct. 17 that it aims to open a premium store in Beijing, China, next year, a decade after it shut operations there. The Korean coffee franchise entered the Chinese market in 2005 but exited after three years following a lukewarm response as it failed to di...
October 16, 2018
SKINFOOD to close outlets in E-mart, E-Land Retail

[THE INVESTOR] SKINFOOD has decided to shut down its outlets at major hypermarket chains in Korea, industry sources said on Oct. 16. Although SKINFOOD declined to confirm the news, it has reportedly called for emergency meetings with hypermarket chain operators, including E-mart and E-Land Retail...
October 15, 2018
CJ CGV’s Vietnam unit to slow down IPO process

[THE INVESTOR] CJ CGV Vietnam Holdings has decided to delay its plans to be listed on the main KOSPI bourse, according to industry sources on Oct. 15. The firm had originally planned to start the demand forecast for listing on Oct. 18-19, but has delayed it to Nov. 1-2. It has also moved its subs...
October 11, 2018
Consumers confused over harmfulness of HNB cigarettes

[THE INVESTOR] The harmful effects of heat-not-burn cigarettes over regular ones continue to confuse consumers here with government agencies and tobacco makers giving conflicting versions. The government recently announced its inspection results on the harmfulness of HNB cigarettes, which was imm...
October 10, 2018
SKINFOOD files for court receivership

[THE INVESTOR] SKINFOOD announced on Oct. 8 that it has filed for court receivership due to its mounting losses. “Although we are having some difficulty in securing liquidity due to excessive debt, we received some market reviews that our brand and products still have some value to maintain our ...

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