SEOUL, July 8 (Korea Bizwire) –Coffee pods are making up a growing percentage of an ever-growing coffee market in South Korea, with sales of products using pre-ground coffee sealed in a capsule more than doubling compared to sales of ground coffee in the first half of the year. According to Emart, South Korea’s largest discount [...]
SEOUL, Oct. 21 (Korea Bizwire) — E-mart Inc., South Korea’s largest hypermarket chain, said Monday that it has named Kang Heui-seok, a partner at Bain & Company, as its new chief executive as the company grapples with declining sales. Kang, a key member of Bain’s retail and consumer products, will head E-Mart in the wake [...]
SEOUL, Oct. 14 (Korea Bizwire) — More consumers are buying low-priced wine that costs less than 10,000 won (US$8.43) per bottle amid the current economic downturn. E-Mart Inc., South Korea’s largest discount store chain operator, reported on Sunday that sales of low-priced wine accounted for 19.7 percent of all wine sales between January and September, [...]
SEOUL, Aug. 14 (Korea Bizwire) — E-Mart Inc. has decided to buy back shares worth some 100 billion won (US$82 million) and securitize its assets through sale and leaseback arrangements. “At the current stage, we have to save up our capability, and use that capability when there is an opportunity,” said Shinsegae Group Vice Chairman [...]
SEOUL, Aug. 13 (Korea Bizwire) — Starbucks Korea reported a 28 percent on-year jump in its operating profit in the first half of the year amid rising appetite for premium coffee, discount store chain E-Mart said Tuesday. From January to June, the U.S. coffee giant posted an operating profit of 74.7 billion won (US$61 million) [...]
SEOUL, Aug. 13 (Korea Bizwire) — E-Mart Inc. said Tuesday that it plans to raise 1 trillion won (US$820 million) by selling assets as the country’s top retailer is struggling with falling profitability amid increased competition with e-commerce giants here. The company said it plans to securitize its outlets worth 1 trillion won by the [...]
SEOUL, Aug. 9 (Korea Bizwire) — E-Mart Inc., South Korea’s leading discount chain operator, swung to the red in the second quarter of the year for the first time in its history in the face of growing competition from online shopping rivals and e-commerce giants. Net losses reached 26.6 billion won (US$24.7 million) in the [...]
SEOUL, Mar. 8 (Korea Bizwire) — E-Mart Inc. announced its plans on Thursday to sell Twizy, an electric vehicle designed by Renault Samsung Motors Corp., at 25 of its stores across the country. Twizy is an urban compact two-seater that accounts for almost 80 percent of the market for small-sized electric vehicles in South Korea. [...]
SEOUL, Feb. 14 (Korea Bizwire) — E-Mart Inc., South Korea’s largest hypermarket chain, said Thursday that it aims to raise its online sales by 30 percent this year, and open more convenience stores. The retail giant, part of Shinsegae Group, also will further nurture its warehouse store, E-Mart Traders. The company expects its sales for [...]
SEOUL, Jan. 4 (Korea Bizwire) — E-Mart Inc. has announced a new pricing policy called ‘Citizen’s Price’ as its first project this year to strengthen offline competitiveness. The Citizen’s Price initiative includes plans to significantly reduce prices of fresh goods and everyday necessities. The initiative comes after Chung Yong-jin, Vice Chairman of Shinsegae Group that operates E-Mart, [...]