default-output-block.skip-main
BoF Logo

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.

Korean Retail Giant E-Mart to Shutter Specialty Stores

Shinsegae department store. Shutterstock.
Shinsegae department store. Shutterstock.

The South Korean retailer will close down off-site specialty arms including Electro Mart and PK Market to focus on its core offerings, The Korea Times reports.

In June, E-Mart, which is owned by department store operator Shinsegae, acquired eBay Korea’s business for $3 billion in a deal expected to give Shinsegae an edge in the market’s ongoing e-commerce arms race. “With the acquisition of eBay Korea, we felt we need to focus on sharpening E-mart’s core strengths by closing down specialty stores located outside of our retail properties,” said an official cited by The Korea Times.

The move rounds out the firm’s ongoing efforts to shed unprofitable brands from its portfolio. E-Mart was formerly British drugstore player Boots’ local partner, but Boots exited the market in February 2020.

Learn more:

A Guide to South Korea’s Booming E-Commerce Market

The pandemic set off an online shopping frenzy in what was already one of the world’s most digitally savvy countries. Here’s what brands need to know.

In This Article
Organisations

© 2021 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions

The Business of Fashion

Agenda-setting intelligence, analysis and advice for the global fashion community.
CONNECT WITH US ON
The State of Fashion: Technology
© 2022 The Business of Fashion. All rights reserved. For more information read our Terms & Conditions and Privacy policy.
The State of Fashion: Technology