Shinsegae Inter Withdraws from Komodo Business
[Asia Economy Reporter Yujin Cho] Shinsegae International affiliate Shinsegae Tomboy is withdrawing from the men's character brand 'Komodo' business.
According to the industry on the 11th, Shinsegae Tomboy decided to terminate the Komodo business and reorganized the related business unit earlier this month. The 29 offline stores will be sequentially closed within the first half of this year.
Komodo is a men's clothing brand launched by Seongdo in 1986. After Shinsegae International acquired Seongdo in 2011, it was renewed and relaunched but never turned a profit.
Amid continued sales decline due to the COVID-19 recession and worsening management conditions caused by the expansion of the online fashion market, the decision to withdraw appears to have been made.
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Following the discontinuation of the children's clothing brand Tomkid in 2018, Shinsegae Tomboy has now stopped Komodo as well, leaving only one women's clothing brand, Studio Tomboy.
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