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South Korean retail giant E-mart is closing loss-making specialty stores as it responds to falling sales in a gloomy retail market. After closing outlets in its discount Pierrot Shopping network in July, the company is now looking at trimming the network…
South Korean conglomerate E-Land Group is pulling its OTZ Shoes brand from the US market, six years after buying it. E-land Group, through its subsidiary E-Land USA Holdings, bought the California-based OTZ Shoes at US$8.5 million in 2013. But now, the…
South Korean fashion and retail group E-Land is surrendering its Coffee Bean & Tea Leaf China franchise licence. The move is expected to improve the conglomerate’s reportedly strained cash-flow situation and mark a more focused approach to retail. It comes…
Singapore’s sovereign wealth fund GIC has injected KW100 billion (US$91 million) into Korean retail major E-Land Group. The round was part of a KW200 billion investment led by Hong Kong-based Anchor Equity Partners. With interests in malls, restaurants, theme…
The deal with V-Grass represents the biggest cross-border merger and acquisition agreement in Korea’s fashion industry. E-Land Group said proceeds from the sale will help the company reduce its debt level to 240 percent by the first quarter from the current…
E-Land Group, headed by Chairman Park Sung-su, is fiercely refuting the Korea Investors Service’s latest credit downgrade of its holding firm, E-Land World, vowing to file a lawsuit against the ratings agency affiliated with the U.S.-based Moody’s. Officials…
South Korea’s Hyundai Department Store is buying trading company SK Networks’ fashion business for KRW326.1 billion (US$284 million). When the purchase is complete, probably by February, SK Networks (SKN) will no longer have interests in the fashion industry.…
South Korean apparel brand Eland plans to develop ten shopping centers in China before the end of 2016. Eland started tapping the shopping center market in China from January 2016. By cooperating with Parkson, the company aims to transfer traditional…
A US private equity giant is the successful bidder for South Korean hypermarket chain Kim’s Club, part of the fashion and retail conglomerate E-Land Group. Named the preferred bidder for Kim’s Club, Kohlberg Kravis Roberts (KKR) will now discuss with E-Land…
South Korean retailer E-Land has sealed a deal to launch Coffee Bean China by the end of 2015. The California-headquartered cafe chain, also known by its full name Coffee Bean & Tea Leaf, says China will be its 28th international market. The China joint…
South Korean retailer E-Land says its first full scale store in Taiwan’s capital Taipei drew 80,000 shoppers in its first week. Collectively, they spent US$843,000 in the week-long trial opening. E-Land opened its first Taiwanese boutique as a concession…
Just a few days shy of the deadline to apply for a Seoul duty-free business license, E-Land announced plans to join the fray. The conglomerate, whose businesses span from retail and fashion to restaurants, said Thursday that it plans to build a duty-free shop…
