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Tag: eland

  • E-Land shutters stores as profit tumbles

    E-Land shutters stores as profit tumbles

    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 further.

    “We’re considering closing the Pierrot Shopping store in Myeong-dong in order to enhance the profitability of specialty stores,” an E-mart official told The Korea Times.

    The company has also closed 18 out of its 33 Boots health & beauty stores and the Pangyo branch of its technology-retailing chain Electro Mart.

    E-Land launched Boots under license in 2017 to take on CJ Group’s market-leading chain Olive Young, but the brand has made a little impact to date.

    E-mart’s profit fell from 194.6 billion won (US$166 million) in the third quarter of last year to 116.2 billion won ($97.2 million) in the same period this year.

    Analysts predict incoming CEO Kang Heui-seok will continue to rationalize store networks and focus on the group’s burgeoning online business SSG.com.

    “E-mart will accelerate is business transformation under Kang’s leadership, as the CEO has extensive retail experience and ability to drive growth” an HI Investment & Securities analyst told The Korea Times.

    “The company will seek to recover its profitability by minimizing unprofitable businesses and focusing more on the online sector, SSG.com.”

  • Xtep Takes Over Footwear brands Palladium, K-Swiss and Supra

    Xtep Takes Over Footwear brands Palladium, K-Swiss and Supra

    Palladium, K-Swiss and Supra brands sold by South Korean’owned E-Land Footwear USA.

    Hong Kong-listed sportswear giant Xtep International has bought three US footwear brands from South Korea’s E-Land USA.

    The Chinese company will pay US$260 million for all the outstanding shares in E-Land Footwear USA Holdings, which owns the K-Swiss, Palladium and Supra brands. Settlement is due by the end of July.

    Xtep chairman and CEO Ding Shui Po said the purchase marked the company’s move into “a new era of business” following a three-year strategic transformation.

    He said the brands would complement Xtep’s product portfolio “and elevate us as one of the leading global multi-brand sportswear companies”.

    “Not only will it strengthen Xtep’s foothold in the expanding Chinese sportswear market, but will also provide us with growth opportunities in untapped overseas markets such as Southeast Asia. In other words, Xtep has what it takes to speed up business growth both domestically and overseas in the years to come.”

    All three brands have global name recognition and are target the high end of the market.

    K-Swiss, a heritage athletic shoe brand which was founded in California in 1966, offers performance tennis footwear, lifestyle and fitness footwear targeting athletes and trendsetters. Palladium is one of the best-known global pampa boot brands established in France in 1947. Between them, the brands have a global presence covering more than 80 countries and territories.

    Ding Shui Po said the brands’ distinctive positioning and different target customer groups are highly complementary to Xtep’s brand portfolio.

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  • Korea’s Eland Aims At Ten Shopping Centers In China In 2016

    Korea’s Eland Aims At Ten Shopping Centers In China In 2016

    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 department stores into city outlets. For the next step, Eland will cooperate with other department stores and shopping malls in China, aiming to open ten shopping centers in this marketplace before the end of 2016. For the year 2017, the company aims to have over 30 outlets and by 2020, they aim at 500 outlets and sales scale of CNY200 billion.

    Eland Group has 56 Newcore Outlets in South Korea. The company plans to bring its successful operating model and experience into China and transfer traditional department stores into city outlets to attract young consumers.

    At present, Eland has opened two shopping centers in China, one cooperating with Parkson in Shanghai and the other cooperating with Hualian in Chengdu. In addition, Parkson previously closed a store in Nanchang in September 2016 and said they will team with Eland Group to implement transformation and upgrades for the store.

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  • S Korea’s E.Land to optimise provide chain operation by implementing Manhattan’s know-how

    S Korea’s E.Land to optimise provide chain operation by implementing Manhattan’s know-how

    E.Land World Ltd, the most important attire model in South Korea and the core attire subsidiary of worldwide retail group E.Land, is implementing Manhattan’s Provide Chain Commerce Options to assist fulfil on its service promise to clients and allow future enterprise progress.

    With Manhattan’s know-how, E.Land World will have the ability to present a speedy and constant fulfilment expertise to its clients. The answer deployment is already underway on the firm’s Cheonan distribution centre (DC) in South Korea, a newly constructed 1 million sq. ft. facility using 300 individuals and dealing with 340,000 stock-keeping models.

    The implementation is being carried out by a joint workforce from Manhattan Associates, E.Land IT subsidiary E.Land Techniques Ltd. and native Manhattan associate Worth Chain Consulting & Applied sciences.

    “As a market-leading style model, it’s crucial that E.Land World is supported by an environment friendly, strong and agile provide chain infrastructure,” defined Choon Woo Leem, vice chairman of Logistics at E.Land World. “The Manhattan options will assist us optimise our provide chain operation and provides us a extremely versatile fulfilment functionality, making certain we will meet the more and more refined necessities of our clients.”

    Whereas the primary part of the challenge is focussed on the South Korean distribution centre supporting the attire retail subsidiary, dad or mum firm E.Land plans to roll out the Manhattan know-how to different group companies in a number of geographies. E.Land expects the second part of the challenge to begin with deployments at distribution centres supporting its retail enterprise in China.

    E.Land’s retail operations span a number of markets all over the world together with China, Japan, Sri Lanka, UK, US and Vietnam. It operates companies within the restaurant, leisure, grocery, e-business and development sectors. The attire division of the group boasts 60 totally different style manufacturers and group annual turnover exceeds USD7 billion. In recent times, it has acquired the worldwide advertising rights for Okay-Swiss, the worldwide tennis shoe model and launched the SPAO and MIXXO style manufacturers in Japan.

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