Samsung C&T Fashion Division Posts Q3 Operating Profit of 12 Billion Won, Down 43% Year-on-Year

Sales Reach 445 Billion Won, Up 2.8% Year-on-Year
"Profitability Declines Due to Expanded Promotions"

On October 28, Samsung C&T’s fashion division announced that its operating profit for the third quarter was 12 billion won, a decrease of 42.9% compared to the same period last year. During the same period, sales reached 445 billion won, marking a 2.8% increase year-on-year.

Compared to the previous quarter, both sales and operating profit fell by 12.8% and 63.6%, respectively. Samsung C&T explained that while sales increased year-on-year due to strong sales of imported products, operating profit declined as a result of expanded promotional activities and related costs.

Recently, Samsung C&T has been seeking growth opportunities by acquiring additional licenses for popular overseas brands. In September, the company secured the domestic licensing rights for the British footwear brand Fitflop. In the first half of next year, it plans to acquire additional domestic licenses for overseas contemporary brands.

A representative from Samsung C&T’s fashion division stated, “Although the business environment will remain challenging in the fourth quarter of this year, our own brands have strengths in winter products such as outerwear, so we expect a rebound in sales through focused marketing efforts.”

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