ISEcommerce "W Concept Korea Stake Sale... Additional 60 Billion KRW Recovered"

[Asia Economy Reporter Yoo Hyun-seok] ISEcommerce, a leading company in the lifestyle culture brand based on e-commerce, announced on the 2nd that it has decided to sell a 20% stake in W Concept Korea to SSG.com and plans to recover approximately KRW 60 billion.

W Concept Korea, established by ISEcommerce in 2008, has grown explosively in popularity since launching collaborative projects with talented designers. In November 2017, it sold 60% of its shares to the large private equity firm Wizard One (IMM PE).

W Concept's sales and GMV (Gross Merchandise Volume) have increased every year. The company explained that the recent heated e-commerce market atmosphere, along with analyses that the industry's focus will shift toward the fashion sector and expectations that the apparel market will become a high-margin category, contributed to its high corporate valuation in the late KRW 200 billion range.

The company plans to recover a total of about KRW 120 billion, including KRW 60 billion from the 60% stake sale in 2017 and an additional approximately KRW 60 billion from the current 20% stake sale.

With approximately KRW 60 billion secured from this W Concept Korea sale, ISEcommerce plans to accelerate strengthening its core business capabilities and entering new businesses.

Initially, funds will be invested in upgrading products and services reflecting Wizwid customers' needs and strengthening overseas CBE (Cross-Border E-commerce) fulfillment. Subsequently, additional funds will be invested in launching new services (or platforms) and new brands for new customer segments, strengthening partnerships with overseas brands, and expanding overseas, with plans to actively pursue investments to create new growth engines starting this year.

This content was produced with the assistance of AI translation services.