SEOUL, Feb. 3 (Korea Bizwire) – Hotel Shilla is aiming to take over DFASS, the world’s largest in-flight duty-free specialty retailer, to expand its duty-free business to on-board duty-free shopping. According to retail industry experts in Korea, Hotel Shilla selected Goldman Sachs as the managing underwriter for its acquisition of DFASS, and is now fine-tuning the [...]
Global Fashion Executive Brings Proven Experience as Visionary Brand-Builder and Broad Leadership Skillset to Drive Growth for Iconic American Brand DODGEVILLE, Wis., Feb. 2 (Korea Bizwire) — DODGEVILLE, Wis., Feb. 2, 2015 (GLOBE NEWSWIRE) — Lands’ End, Inc. (Nasdaq:LE) today announced that its Board of Directors has named Federica Marchionni as Chief Executive Officer. Ms. [...]
SEOUL, Feb. 2 (Korea Bizwire) – After plummeting tobacco sales in Korea following the price hike on New Year’s Day, demand for cigarettes is slowly but steadily recovering. After one month, stiff resistance from smokers has abated, and some have already given up their no-smoking resolutions. According to E-Mart’s analysis of its tobacco sales during [...]
SEOUL, Feb. 1 (Korea Bizwire) – South Korean retail giant E-Land Group said Sunday it has started construction of an integrated logistics center and training institute in Shanghai to expand its regional presence in Asia. The conglomerate, whose business ranges from fashion apparel and restaurants to hotels, said a ceremony marking the start of construction [...]
SEOUL, Feb. 1 (Korea Bizwire) – Foreign cigarettes outsold South Korean brands for the first time in 29 years last month, as a spike in prices affected local market demands, data showed Sunday. Market data collected from the country’s two main convenience store chains for January showed foreign cigarettes, which did better at lowering prices [...]
SEOUL, Jan. 27 (Korea Bizwire) – Convenience stores usually sell simple items such as snacks, drinks and other daily necessities. Now, they are transforming themselves into private lockers, meeting rooms and concert halls providing a variety of “spaces.” According to BGF Retail, the franchiser responsible for the CU convenience store chain, its CU Itaewon Freedom store [...]
SEJONG, Jan. 25 (Korea Bizwire) — Overseas direct purchases made by South Koreans reached an all-time annual high of US$1.54 billion in 2014, as consumers sought better bargains and a wider choice of products, the customs service said Friday. The total represents a 39 percent increase compared to $1.04 billion brought in from abroad in [...]
GWANGMYEONG, Korea, Jan. 22 (Korea Bizwire) – IKEA Korea was embroiled in controversies over its perceived high pricing policies and its map favoring Japan even before opening its first shop in Korea. However, one month after opening it’s first store in Korea, the business is a resounding success. On January 21, IKEA Korea welcomed its 1 [...]
SEOUL, Jan. 22 (Korea Bizwire) – Sulhwasoo, Asia’s ‘Holistic Beauty’ skin care brand, whose products are based on ingredients derived from traditional medical herbs, is opening its 47th store in China on January 23. The new Nanjing store will be a huge flagship store, offering not only products but also diverse tailored services. Sulhwasoo has been winning [...]
SEOUL, Jan. 21 (Korea Bizwire) – Shinsegae Department Store has opened a bicycle shop at its main store in Chungmuro, being the first department store in Korea that is home to a bicycle shop. The shop features classic models from Pedersen Bicycles, often called ‘the Bentley of Bicycles,’ multi-purposed ‘Cargo and Cruiser’ bikes from Johnny Loco, and [...]