Shinsegae Department Store Acquires Shinsegae Live Shopping... "Signal for Online Expansion"

Acquisition of Shares Held by Emart (47.8%) and Shinsegae I&C (28.3%) Worth 225.5 Billion KRW
"Expansion of Department Store Online Business, Strengthening Digital Content, and Securing New Customers"
Emart Accelerates 'Digital Transformation' Through Asset Efficiency

[Asia Economy Reporter Yuri Kim] Shinsegae Department Store is acquiring Shinsegae Live Shopping.

On the 3rd, Shinsegae Department Store announced that it will acquire 11.26 million shares (76.1%) of Shinsegae Live Shopping held by Emart and Shinsegae I&C for 225.5 billion KRW. Emart and Shinsegae I&C hold 47.8% and 28.3% of Shinsegae Live Shopping shares, respectively. After approval of the largest shareholder change report by the Ministry of Science and ICT, Shinsegae plans to acquire management rights and assets of Shinsegae Live Shopping and employ all its staff, making it a subsidiary.

Through this acquisition, Shinsegae aims to accelerate the digital transformation of its department store. It will diversify its portfolio by expanding from the existing offline-focused distribution channels to various online businesses. By linking the department store’s businesses such as fashion, beauty, and lifestyle, it will strengthen the competitiveness of live shopping. Shinsegae plans to present a differentiated vision and potential by implementing an integrated online-offline commerce platform that helps attract customers familiar with online and non-face-to-face content.

This is also expected to help expand transaction volume and acquire new customers for the department store. Shinsegae Live Shopping’s annual transaction volume is about 1.1 trillion KRW, with annual visits reaching 1 billion.

Emart will also secure capacity to focus on expanding core online businesses for the 'digital transformation' along with asset efficiency through this share sale.

Established in 2013, Shinsegae Live Shopping launched in 2015 by acquiring Dream Commerce. It sells various lifestyle products such as insurance, rental, beauty, health supplements, food, clothing, living, and electronics through T-commerce-based TV broadcasts and online/mobile broadcasts.

In January this year, Shinsegae Live Shopping changed its name from Shinsegae TV Shopping and expressed its ambition to quickly respond to changes in the distribution environment by reorganizing around online and mobile. After Shinsegae’s acquisition, it is expected to present various content, including strengthening the department store product lineup as a live shopping platform.

A Shinsegae official said, "This acquisition will be a signal for Shinsegae to accelerate digital transformation and expand online business," adding, "We will realize an integrated commerce platform leading customer lifestyles by combining online and offline capabilities."

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