The Business of Fashion
Agenda-setting intelligence, analysis and advice for the global fashion community.
Agenda-setting intelligence, analysis and advice for the global fashion community.
The health and beauty chain, also known as CJ Olive Young, is looking to raise $1 billion in a local public offering sources say will take place early 2022, Retail News Asia reports.
Olive Young operates around 1,200 stores in South Korea, in addition to a global distribution platform serving 150 countries it launched in 2019. The business reported operating profits of $84.4 million last year.
The news comes amid a surge in Korean IPOs, which according to Refinitiv data have raised $21.4 billion this year — almost seven times the figure raised in 2020.
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Local streetwear brands, festivals and stores selling major global labels remain relatively small but the country’s community of hypebeasts and sneakerheads is growing fast.
This week’s round-up of global markets fashion business news also features Senegalese investors, an Indian menswear giant and workers’ rights in Myanmar.
Though e-commerce reshaped retailing in the US and Europe even before the pandemic, a confluence of economic, financial and logistical circumstances kept the South American nation insulated from the trend until later.
This week’s round-up of global markets fashion business news also features Korean shopping app Ably, Kenya’s second-hand clothing trade and the EU’s bid to curb forced labour in Chinese cotton.