SEOUL, Nov. 30 (Korea Bizwire) – E-land Group, a South Korean fashion giant, said Monday it will sell Kim’s Club Mart, its supermarket chain operator, through open bidding to better focus on its core businesses.
Kim’s Club has 37 outlets inside E-land’s retail network, but it falls behind the big three players in the hypermarket industry — E-Mart, Homeplus and Lotte Mart.
The company said the sale is aimed at putting more focus on the global retail and fashion business, without elaborating on the specific schedule of the bidding.
E-Land has launched several SPA (specialty retailer of private label apparel) brands to compete with global fashion giants such as Zara and Uniqlo. It has also expanded its business in the food franchise and leisure sectors, making an aggressive foray into China.
In 2008, E-Land sold French retailer Carrefour’s Korean unit amid a sluggish performance in the domestic market.