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.
Shinsegae Group’s e-commerce firm SSG.com has acquired Korea’s leading online fashion platform W Concept in a move designed to beef up its online fashion business, according to a report in The Korea Times.
The retail giant, one of Korea’s largest department store operators, already has a membership program five million strong and sells a number of fashion brands exclusively while also operating its own Frontrow brand.
W Concept, meanwhile, has a 30 percent share of Korea’s online womenswear market, according to estimates cited by The Korea Times, and has been upgrading its products and price point to a higher-end positioning recently.
The deal is still contingent on approval from the Korea Fair Trade Commission.
This week’s round-up of global markets fashion business news also features Japanese cosmetics group Kosé, Pakistan’s e-commerce market and JD.com’s management shakeup in China.
Actors are a particularly effective way of reaching Indian consumers, but fashion brands should consider widening the net to include other famous faces like local musicians, athletes and celebrity influencers, say marketing experts.
Global luxury brands are signing celebrity ambassadors from Thailand to tap into rising local demand and leverage the stars’ growing appeal across the wider Asia region.
This week’s round-up of global markets fashion business news also features Russian diamonds, Botswana’s gem trading investment and India’s Diwali fashion ads.