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In the quest for acquiring the South Korean retail giant Homeplus, two contenders have stepped forward. The attempt to secure new ownership for Homeplus is aimed at stabilizing its operations. AI company Harex InfoTech and an anonymous bidder have expressed…
Homeplus Co, a discount store chain experiencing financial troubles, disclosed on Wednesday its plans to shut down 15 outlets due to increasing operational challenges in the business environment. Undergoing a court-led rehabilitation process since March this…
The Seoul Bankruptcy Court has given the green light to the sale of South Korean grocery retailer, Homeplus. The decision was driven by a need to generate capital for debt repayment and to safeguard jobs within the company. Earlier this year, MBK Partners,…
South Korean supermarket chain Homeplus has appointed former CEO of McDonald’s Korea Cho Ju-yeon as its new chief marketing officer, in an executive reshuffle announced on Thursday. Cho made headlines in 2016 when she became the first female CEO at the South…
MBK Partners, a private equity firm primarily operating in Northeast Asia, recently announced plans to sell its struggling South Korean supermarket chain, Homeplus. This move aims to prevent the retailer from going under. In an attempt to keep the firm afloat…
Twenty-seven people have been awarded the auspicious title of beer sommelier by discount chain Homeplus. The discount chain’s first Macmelie Contest – macmelie is a portmanteau of the Korean word maekju, or beer, and sommelier – on Saturday saw 200…
Discount chain Homeplus has changed its logo for the first time in 21 years – a move the company says signals more aggressive management activities are to come. The radical redesign eliminates the line under “Homeplus” and adds a new red stylized plus symbol…
Swedish fashion label H&M is launching an outlet at the Homeplus Bucheon hypermarket in South Korea. The brand’s 29th Korean store, located to the West of Seoul, will open on September 20 and is its first hypermarket venture in the territory. The company’s…
Korean discount store chain Homeplus has opened a bulk products and grocery store hybrid called Homeplus Special in Daegu. The new concept store is housed in the original Homeplus outlet that opened 20 years ago, now converted to operate the new…
A group of affluent individuals would come up with 90 billion won ($75.5 million) to jointly own a Homeplus Co. superstore outlet in the suburban city of Pyeongchon, Gyeonggi Province, evidence that retail investors are joining their institutional…
Hypermarkets, which offer a wide range of products under one roof, once prospered in Korea. Recently, however, sales growth has stagnated with a rapid change in consumer behavior. According to industry watchers, hypermarkets in Korea anticipated high growth…
Korea’s retail giant Homeplus launched an expanded line of sushi, which will sell for 390 won (30 cents) each until April 6. Homeplus announced Wednesday that it built on their existing sushi line “Chef Sushi,” which was originally limited to 16 types, to 34…
South Korea plans to unveil a new index tracing online retail prices this year by using big data from private sector to reflect actual economic sentiment, according to Statistics Korea on Tuesday. The state-run agency plans to release an online price index…
Tesco has ruled out selling any more of its Asian operations in the wake of the Homeplus South Korea divestment. At least for now. After the US$6 billion sale of Homeplus and an earlier divestment of a stake in its Chinese operation, Tesco Asia retains a…
Any buyer of Tesco’s $6 billion South Korea unit will need a strategy to boost returns in a lethargic and saturated market for traditional retailers, likely involving real estate sales and a greater focus on Internet shopping. Britain’s Tesco has hired HSBC…
Tesco’s obvious technique to attract out bidders for its Korean Homeplus operation is already paying off. Whereas personal fairness gamers have been apparently despatched invites to bid, the best way the information of the as but formally unconfirmed sale…
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