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The Korea Herald

Retail & Consumer

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...
March 18, 2024
Dyson founder visits Seoul to unveil new hair dryer

Other new features include the “pause detect” mode, which senses when the device is put down and automatically turns off the heat and motor to save energy. When the user picks up the device again, it turns back on to full operation. Dyson also included attachment learning technology for its upgr...
March 15, 2024
Nongshim earns over 50% of its profit from overseas on K-food hype

The sales and operating profit of South Korea's top ramyeon maker Nongshim hit all-time highs last year thanks to the popularity of ramyeon products in foreign markets, the company said Friday. The company’s operating profit in 2023 jumped by 89.1 percent from a year earlier to reach 212 billion ...
March 14, 2024
Alibaba pledges $1.1b investment for Korea expansion

Alibaba Group, the company of Chinese e-commerce giant AliExpress, renowned for its budget-friendly offerings, plans to invest more than $1 billion in Korea over the next three years, with a massive distribution center being built within the year. According to industry sources on Thursday, Alibaba...
March 14, 2024
AliExpress lures Korean food companies with hefty incentives

AliExpress, the Chinese e-commerce platform owned by Alibaba Group, has been reaching out to Korean food companies to diversify its product range and gain more recognition among Korean consumers. Following South Korean food giant CJ CheilJedang, which joined the Chinese platform early this month, ...
March 14, 2024
China's Alibaba plans to invest $1.1 bln in S. Korea

China's Alibaba Group plans to invest $1.1 billion in South Korea over the next three years, as it seeks to build a logistics center and expand businesses. As part of the investment plan, the Chinese e-commerce giant plans to spend $200 million this year to build the logistics center, according to...
March 13, 2024
Yanolja launches US office amid IPO push

Korean travel platform operator Yanolja announced the opening of its first US office in Manhattan, New York, on Wednesday. The move aims to accelerate its North American travel solutions business, coinciding with growing anticipation for the company's potential listing on the US stock market this y...
March 12, 2024
[KH Explains] Coupang's Farfetch gambit: Was the deal undervalued?

Market reshaping According to Bain and Company's 2024 report, the global luxury goods market posted 4 percent growth in sales in 2023 compared to a year ago. But business uncertainty persists, with mixed signals coming from key markets such as China, the US and Europe. The luxury e-commerce marke...

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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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