Uniqlo s top position threatened by local fast fashion brands
Posted : 2021-07-08 08:49
By Kim Jae-heun
Japanese casual clothing brand Uniqlo is being chased aggressively by domestic fashion firms like TOPTEN10 and SPAO, and it might soon need to yield its top market position to a domestic player.
In the 2000s, Uniqlo enjoyed an indisputably high position in Korea, the company s third-largest market after Japan and China.
Uniqlo s sales in 2019 were nearly triple those of TOPTEN10, but the Korean rival has closed the gap, now making only 30 percent less revenue than the Japanese firm. While Uniqlo s sales have dropped, TOPTEN10 s sales in the first quarter of this year have already doubled compared to last year.
Posted : 2021-01-25 14:17
Updated : 2021-01-25 21:04
CJ CGV s movie theater in Yongsan, Seoul, is empty Jan. 14, as the COVID-19 pandemic continues to spread. / Korea times photo by Bae Woo-han
By Kim Jae-heun
The country s largest multiplex cinema chain CJ CGV is looking for new investors to take over its theater business after its sale talks with private equity fund (PEF) Keistone Partners were suspended.
Keistone Partners originally planned to utilize its blind fund and form an additional project fund to acquire CJ Group s multiplex cinema unit. The deal was expected to be closed at the end of the month.
However, investors delayed their decision on the acquisition of CJ CGV, which led to the talks facing an uncertain future. They were worried that the theater business here has been in a recession for too long and that various content providing platforms including over-the-top services have become more viable, which halved CJ CGV s business attractiveness.