NHN Commerce Acquires Italian Commerce Company 'Iconic'... Secures European Base

NHN Commerce announced on the 11th that it has acquired a 77.8% stake in Iconic, a leading Italian commerce company, and is launching a global market expansion by securing a new base in Europe.

Founded in 1934, Iconic is an Italian commerce company with an annual sales volume of approximately 100 billion KRW, competitive in distribution channels for luxury fashion brands. Based on the brand "Coltoti," it operates a chain of offline luxury fashion select shops within Italy. Additionally, through its e-commerce platform, it distributes luxury fashion and accessory products from over 250 brands to global markets in more than 100 countries.

From the left, Lee Yoon-sik, CEO of NHN Commerce; Maurizio Coltorti, founder of Iconic; Riccardo Bilancioni, new CEO of Iconic
[Photo by NHN Commerce]

With this acquisition, NHN Commerce will be able to establish strong networking with leading global luxury brands. By securing distribution channels for luxury product lineups, it plans to focus on the rapidly growing global luxury fashion market.

Through this, NHN Commerce plans to collaborate with partner brands to distribute competitive products to global markets including Korea and China. It will also support the global expansion of domestic brands and strive to expand its business on the global stage. Furthermore, it will integrate advanced IT technology accumulated through the domestic shopping mall construction solution "Shopby" into Iconic’s e-commerce platform.

Lee Yoon-sik, CEO of NHN Commerce, stated, "We will actively utilize the local networking with European luxury brands that Iconic has built over a long time to carry out various projects distributing competitive products in the global market. This acquisition will be a starting point for NHN Commerce to officially expand its business stage globally."

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