Shinsegae’s E-Commerce Arm Acquires W Concept - SolidRumor.com

Shinsegae’s E-Commerce Arm Acquires W Concept

 Shinsegae’s E-Commerce Arm Acquires W Concept

Outside a Shinsegae department store in Daegu, South Korea. Shutterstock.

Shinsegae Group’s e-commerce firm SSG.com has acquired Korea’s leading online fashion platform W Concept in a move designed to beef up its online fashion business, according to a report in The Korea Times.

The retail giant, one of Korea’s largest department store operators, already has a membership program five million strong and sells a number of fashion brands exclusively while also operating its own Frontrow brand.

W Concept, meanwhile, has a 30 percent share of Korea’s online womenswear market, according to estimates cited by The Korea Times, and has been upgrading its products and price point to a higher-end positioning recently.

The deal is still contingent on approval from the Korea Fair Trade Commission.

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