Shinsegae Archives - Page 12 of 12 - Inside Retail Asia

Korean retail sales slump further

Fresh data from Korea’s finance ministry shows retail sales fell for the third month in a row in November. The ministry measures sales in the nation’s leading discount stores and department stores to create a trend recording. It shows combined sales fell 5.6 per cent year on year at Hyundai, Lotte and Shinsegae stores. Sales fell 6.3 per cent in September and by a more modest 2.2 per cent in October. In the discount sector, sales fell 3.9 per cent, following declines of 10.1 per cen…

Home Plus in bid for c-store chain

Korean news media report Home Plus is negotiating to acquire about 100 365 Plus stores from C-Space, a subsidiary of the industrial conglomerate Hanwha Group, which also operates department stores in South Korea. If the deal proceeds, Home Plus would have about 320 stores – a network large enough to make it the nation’s fifth largest c-store group in terms of store numbers, overtaking rival Shinsegae’s WithMe chain. “We are in exclusive talks with Home Plus and may be able to finalise th…

South Korea sales slump eases

Sales at South Korea’s top department and discount stores have fallen for the second consecutive month. However, preliminary government data shows the speed of the decline has eased dramatically. South Korea’s Finance Ministry says sales at Hyundai Department Stores, Lotte Shopping stores and Shinsegae stores in October fell by 0.9 per cent month-on-month – significantly better figure than the 6.3 per cent drop in September. Year-on-year, sales were down 0.4 per cent, again considerab…

Korean spending slips – except online

South Koreans spent less in department stores and discount chains in September. But other figures show they are spending more online offshore. The Korean Trade Industry reports that sales at department stores run by Lotte, Shinsegae and Hyundai fell 6.3 per cent in September, year on year – the first fall since June. That’s the steepest drop since January 2013 and contrasts with a 10.5 per cent increase in spending in August. And sales at major discount stores fell 10.1 per cent year …

E-mart to go solo in Vietnam

Korean retail giant E-mart has decided to go independent to expand to Vietnam. E-mart is a discount store chain launched in 1993 by Shinsegae, Korea’s department store operator. The discount store chain is reported to have abolished its partnership with Vietnamese real estate company U&I Investment Corporation. Without further elaboration, a spokesperson from E-mart said the partnership had problems. “We now seek to establish a branch office in Vietnam independently. Our first di…

John Lewis expands Korean presence

British department store chain John Lewis is expanding its international footprint with a new store in South Korea. John Lewis will open its fifth store in South Korea this month, through partnership with the Shinsegae department store chain, where it has four stores across Seoul. The South Korean expansion follows its confirmation to take the brand into Heathrow’s Terminal 2 in June 2014, with the goal of expanding awareness amongst international travellers. It is also eyeing further o…

Shinsegae to build new malls

Nearly $1 billion investment in new retail developments.

John Lewis sets eyes on Asia

British retailer to set up concessions in Asian countries – except China.

Walmart shuttering last store in Korea

US retail giant failed to adapt to local corporate and social culture.