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(Photo = Shinsegae International) |
[Alpha Biz= Reporter Kim Minyoung] Shinsegae International announced on the 7th that it recorded Q2 revenue of 320.9 billion won and an operating profit of 13.3 billion won, marking a 3.9% decrease in revenue and a 27.8% decrease in operating profit compared to the same period last year. The decline was attributed to ongoing weak consumer sentiment. However, compared to Q1 of this year, revenue increased by 3.7% and operating profit by 18.7%, indicating a positive trend in performance.
The cosmetics division showed a 9.0% growth due to strong sales of existing brands and the addition of new brands, with notable growth from brands like Yeonjak and Vidi Vici. The import fashion segment benefited from high growth in brands such as UGG, Sacai, and Brunello Cucinelli, as well as promising results from newly launched brands like The Row and Courreges. The JAJU division improved profitability through efficiency measures.
Looking ahead to the second half of the year, Shinsegae International plans to enhance its business capabilities. The beauty brands ‘Amuse’ and ‘Swiss Perfection’ will focus on global market expansion, while the fashion licensing business, including ‘Harley-Davidson Collections,’ will aggressively pursue global operations to boost both revenue and profitability.
AlphaBIZ Kim Minyoung(kimmy@alphabiz.co.kr)
