Brandy Completes Acquisition of Seoul Store... "Will Expand Commerce Competitiveness"

[Asia Economy Reporter Song Seung-yoon] Brandi announced on the 9th that it has completed the acquisition process of the fashion platform Seoul Store.

Seoul Store is a brand fashion platform offering more than 2,700 fashion brands, launched by D Unit in 2015. With 3.5 million members and a cumulative transaction amount of 170 billion KRW, its transaction volume grew about 100% year-on-year last month, showing continuous growth.

With this acquisition of Seoul Store, Brandi has become an operator of a total of four e-commerce platforms, following the launch of the women's fashion app Brandi, the men's shopping app Hyber, and the fashion app for women in their 30s, Flare. Brandi plans to expand its commerce competitiveness by broadening its target and category from men's and women's fashion and trends to brand fashion. Additionally, it aims to discover capable sellers and expand into the global market.

Seo Jeong-min, CEO of Brandi, said, "We will support faster growth by introducing Brandi's IT technology, commerce operation know-how, and fulfillment infrastructure to Seoul Store, which has a portfolio of well-known domestic fashion brands." He added, "Within the vertical commerce market, which is expanding with a segmented portfolio, we plan to present various services that meet customer needs and enhance synergy between businesses."

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