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.
Retail sales in the country were up 13 percent year-on-year in July, due in large part to demand for delivery services amid social distancing restrictions, The Korea Herald reports.
In an attempt to curb the spread of the delta strain of Covid-19, local authorities imposed stricter measures last month, including a ban on gatherings of more than four people and a 9pm curfew.
Data from the Ministry of Trade, Industry and Energy reveals that total sales from 25 major online and offline retailers hit 12.9 trillion won ($11 billion) in July, up from 11.4 trillion won ($9.7 billion) in 2020. Department stores saw sales increase by 7.8 percent on the back of robust demand for luxury goods, but concerns about Covid-19 dampened overall physical retail growth.
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South Korean Retail Sales Up 13% as Vaccine Roll-Out Gains Speed
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.