Home / Knowledge / News / Fashion / S Korean fashion firms trim unprofitable brands amid slump
S Korean fashion firms trim unprofitable brands amid slump
28
Nov '17
Fashion firms in South Korea, including Handsome Corp., Shinsegae International and the Eland Group, are now focussed on trimming unprofitable brands amid a prolonged domestic economic slump. This year marks the fourth consecutive year of single-digit growth in the fashion industry, implying an effective slowdown for many industry watchers.

The South Korean fashion market’s size is projected to reach 39.3 trillion won this year, up from an estimated 38.3 trillion won last year, according to the Samsung Fashion Institute.

Hyundai Department Store Group’s apparel unit Handsome Corp. is in the process of closing down its brands Mothan, while Shinsegae International suspended its Banana Republic business in August, according to a South Korean news agency report.

Retail giant Shinsegae’s apparel arm Shinsegae International Inc. is re-examining the launch of a new handbag brand, originally planned for the second half of this year.

Eland Group, a major South Korean outlet mall operator which sold its brand Teenie Weenie to a Chinese company in January, said it will continue to sell other brands to reduce its debt ratio and improve its financial situation. (DS)

Fibre2Fashion News Desk – India


Must ReadView All

NRF urges US Congress to step in, stop trade war

Apparel/Garments | On 21st Jun 2018

NRF urges US Congress to step in, stop trade war

The National Retail Federation (NRF) recently urged the US Congress...

Courtesy: Connor Group

Textiles | On 21st Jun 2018

Protectionism top threat to textile sourcing: William Connor

Protectionism is the biggest political factor and threat affecting...

Courtesy: Tintex

Textiles | On 21st Jun 2018

'Price ratio is key factor for knitted fabrics market'

The price ratio is a key factor for the global knitted fabrics market ...

Interviews View All

Md Hanifur Rahman
Aman Group

The level of understanding the job role and organisational requirements...

Ghanshyam Ghoghari
Kimora Fashion

Bridalwear is not about reds and whites anymore

Jim Desai
Blaiva Fabricaa

Fashion industry likely to remain labour-intensive in coming years

Vikas Banduke

Softech Controls Private Limited (SCPL) is a part of the Cotmac Group, an...

Karan Behal

Karan Behal, founder and chief executive of top-selling brand...

Paolo Crespi

For.Tex is an Italy-based leading producer of dyes and thickeners, and is...

Eamonn Tighe
Nature Works LLC

Eamonn Tighe, Fibres and Nonwovens - Business Development Manager of...

Paolo Ocleppo
Sandvik Hyperion

Paolo Ocleppo, Rotary Cutting Segment manager, Sandvik Hyperion discusses...

Marten Alkhagen
Swerea IVF AB

Marten Alkhagen, Senior Scientist - Nonwoven and Technical Textiles of...

Rupa Sood and Sharan Apparao
Nayaab

Nayaab, an exhibition meant to celebrate Indian weaves, is in its second...

Nisha Chanda
Whistling Woods International School of Fashion

<div>A lack of upgraded courses in costume designing and fashion as per...

Karan Arora
Karan Arora

Bridal couture created with rich Indian heritage, exquisite craftsmanship...

Press Release

Press Release

Letter to Editor

Letter to Editor

RSS Feed

RSS Feed

Submit your press release on


editorial@fibre2fashion.com

Letter To Editor






(Max. 8000 char.)

Search Companies





SEARCH

Leave your Comments


June 2018

Subscribe today and get the latest update on Textiles, Fashion, Apparel and so on.

news category


Related Categories:

Advanced Search