Skin&Skin, Suspension of Operations in Fashion Commerce Division
Skin&Skin announced on the 11th that it will suspend operations of its fashion commerce (retail and wholesale of clothing, etc.) business division. The amount of suspended operations is approximately 8.1 billion KRW, accounting for 39.37% of sales. The company stated, "The reasons for the suspension are continued deterioration of performance, increased management costs, and improvement of the profit structure through the reorganization of non-core businesses," and added, "We will strengthen the company's profitability and financial structure improvement capabilities by focusing on our core cosmetics business."
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