De Beers Makes Sweeping Cuts to Its Elite Diamond-Buying Club
The diamond company produced less than 22 million carats last year, down from almost 35 million in 2022.
Seoul, South Korea
Luxury
Gucci Show Reaffirms Seoul’s Status as Capital of Pop Culture
K-style takes centre stage in collection that draws inspiration from South Korea’s contemporary and traditional dress.
Gucci Show Reaffirms Seoul’s Status as Capital of Pop Culture
K-style takes centre stage in collection that draws inspiration from South Korea’s contemporary and traditional dress.
Global Markets
Seoul Fashion Week’s Hybrid Season Draws to a Close
This season, its face was Lee Jung-jae, the star of Netflix’s Squid Game — a signal of the event’s ongoing mission to help Korean designers ride the Korean wave (hallyu).
Seoul Fashion Week’s Hybrid Season Draws to a Close
This season, its face was Lee Jung-jae, the star of Netflix’s Squid Game — a signal of the event’s ongoing mission to help Korean designers ride the Korean wave (hallyu).
Global Markets
K-Beauty Giant Amorepacific Looks to Shift Gears In China
The group behind brands like Sulwhasoo, Etude House and Innisfree, is considering giving sales in the key market a much-needed boost by cutting back on physical stores and accelerating expansion of its premium offering and digital channels.
K-Beauty Giant Amorepacific Looks to Shift Gears In China
The group behind brands like Sulwhasoo, Etude House and Innisfree, is considering giving sales in the key market a much-needed boost by cutting back on physical stores and accelerating expansion of its premium offering and digital channels.
Global Markets
Galleria Department Store’s Annual Sales Hit 1 Trillion Won Mark
Sales at the 31-year-old South Korean retailer’s luxury outpost in Seoul’s Apgujeong neighbourhood reached 1 trillion won (around $844 million) for the first time.
Galleria Department Store’s Annual Sales Hit 1 Trillion Won Mark
Sales at the 31-year-old South Korean retailer’s luxury outpost in Seoul’s Apgujeong neighbourhood reached 1 trillion won (around $844 million) for the first time.
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Global Markets
Korean Beauty Retailer Olive Young Eyes $1 Billion IPO
The health and beauty chain, also known as CJ Olive Young, is looking to raise $1 billion in a local public offering sources say will take place early 2022.
Korean Beauty Retailer Olive Young Eyes $1 Billion IPO
The health and beauty chain, also known as CJ Olive Young, is looking to raise $1 billion in a local public offering sources say will take place early 2022.
Global Markets
Department Store Sales Boost Shinsegae’s Q3 Earnings
The South Korean retail giant announced its net income for the July-September period of 2021 hit 188.9 billion won (around $160.4 million) on a consolidated basis, a sharp uptick from the 858 million won ($728,638) in profits it reported last year.
Department Store Sales Boost Shinsegae’s Q3 Earnings
The South Korean retail giant announced its net income for the July-September period of 2021 hit 188.9 billion won (around $160.4 million) on a consolidated basis, a sharp uptick from the 858 million won ($728,638) in profits it reported last year.
Global Markets
Korea’s Economic Recovery Fails to Boost Lotte Shopping Earnings
During the third quarter of its fiscal year, Lotte Shopping reported operating profit reached 28.9 billion won ($24.4 million), down 74 percent year-on-year, a recent filing revealed.
Korea’s Economic Recovery Fails to Boost Lotte Shopping Earnings
During the third quarter of its fiscal year, Lotte Shopping reported operating profit reached 28.9 billion won ($24.4 million), down 74 percent year-on-year, a recent filing revealed.
Global Markets
Shinsegae’s E-Commerce Arm SSG.com Plots IPO
The online marketplace owned by South Korean retail group Shinsegae is preparing for a listing on its local stock market, The Korea Times reports.
Shinsegae’s E-Commerce Arm SSG.com Plots IPO
The online marketplace owned by South Korean retail group Shinsegae is preparing for a listing on its local stock market, The Korea Times reports.
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Global Markets
Ami, Salvatore Ferragamo Jump on the K-Pop Ambassador Bandwagon
The Parisian brand named K-pop septet Enhypen its first global ambassadors, The Korea Herald reports, while the Italian luxury player has tapped
Ami, Salvatore Ferragamo Jump on the K-Pop Ambassador Bandwagon
The Parisian brand named K-pop septet Enhypen its first global ambassadors, The Korea Herald reports, while the Italian luxury player has tapped
Global Markets
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.
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.
Global Markets
South Korean E-Commerce Giant Begins Japan Expansion
The world’s fastest growing retailer, Coupang, launched delivery services in Tokyo on Thursday, kicking off plans to take on its first overseas
South Korean E-Commerce Giant Begins Japan Expansion
The world’s fastest growing retailer, Coupang, launched delivery services in Tokyo on Thursday, kicking off plans to take on its first overseas
Global Markets
Kakao Races to Become South Korea’s Amazon
The mobile messaging app operator is looking to duplicate the US tech and retail giant’s success by growing its business into online shopping, fintech, media content and logistics.
Kakao Races to Become South Korea’s Amazon
The mobile messaging app operator is looking to duplicate the US tech and retail giant’s success by growing its business into online shopping, fintech, media content and logistics.
The News in Brief
L’Oréal India in Talks to Acquire Beauty Company Innovist
L’Oréal is in advanced talks to acquire a majority stake in Bare Anatomy parent Innovist sources told The Economic Times India.
Zegna Chairman Says War Has Clouded Visibility of Demand in Middle East
The Italian fashion house cautioned the war is reducing visibility on demand in the Middle East, which accounts for 7 percent of its sales, though all stores are currently open in the region.
Glossier Appoints New CMO
Nicole Solorzano, who joins from Ouai, is the Millennial beauty brand’s latest hire.
Macy’s CEO Points to E-Shaped Economy, Signalling Consumer Shift
The mention of a forked economy by the head of America’s largest department store signals a heightened wariness that middle-income Americans will continue to spend at the same pace.
France’s Bid to Suspend Shein’s Marketplace Rejected by Appeals Court
The decision from Paris’ Court of Appeal marked a win for the fast-fashion giant after a scandal over sex dolls resembling children for sale on its site.
Coty Announces Board Revamp
The embattled Covergirl owner has appointed five new independent directors amidst a wider leadership and company shakeup.
Zimmermann Names Roberto Eggs CEO
The Moncler Group executive will succeed longtime CEO Chris Olliver, who is staying on as executive chairman.