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 and Lotte Shopping have submitted their bids to buy the country’s third largest e-tailer, sources told Yonhap.
While the two firms submitted their letters of intent for eBay Korea, other players named in the lead-up to the mega deal, mobile carrier SK Telecom and private equity firm MBK Partners, have dropped out, the sources said.
EBay’s Korean arm makes up around 11 percent of its overall business and has been up for sale since last year. The company has an estimated 12 percent share of Korea’s e-commerce market, which has heated up in the wake of Covid-19 with the likes of Coupang, Naver and more angling for a bigger slice of the lucrative, growing industry.
Holding 5 percent and 3 percent stakes of that market respectively, Lotte and Shinsegae have their roots in brick-and-mortar retail; a winning bid for eBay Korea could give either a major edge.
This week’s round-up of global markets fashion business news also features the China Duty Free Group, Uniqlo’s Japanese owner and a pan-African e-commerce platform in Côte d’Ivoire.
Affluent members of the Indian diaspora are underserved by fashion retailers, but dedicated e-commerce sites are not a silver bullet for Indian designers aiming to reach them.
This week’s round-up of global markets fashion business news also features Brazil’s JHSF, the Abu Dhabi Investment Authority and the impact of Taiwan’s earthquake on textile supply chains.
This week’s round-up of global markets fashion business news also features Dubai’s Majid Al Futtaim, a Polish fashion giant‘s Russia controversy and the bombing of a Malaysian retailer over blasphemous socks.