Shinsegae International Co., a merchandising unit of Korean retail giant Shinsegae Group, is speeding up its efforts to expand its fashion business. It has launched seven new apparel labels since last month, a move that is a stark contrast to its local fashion rivals that are busy downsizing their business.

According to Shinsegae International on Monday, the retail tycoon has introduced seven new apparels brands since August. In addition, it has rebranded its steady-seller fashion brand Tomboy to Studio Tomboy with refurbished lineups.

Such aggressive inroad of the nation’s retail conglomerate Shinsegae Group into the local fashion industry has been made since Shinsegae Co. President Chung Yoo-kyung, younger sister of Shinsegae Group Vice Chairman Chung Yong-jin, took over her brother Yong-jin’s shares in Shinsegae Department Store through stock exchange early this year as part of the group’s succession plan.

With the share exchange, Yong-jin has no share in the department store, while his stake in the group’s retail unit E-Mart Inc. increased to 9.83 percent from previous 7.32 percent. Their mother and Shinsegae Group Chairwoman Lee Myung-hee was known to arrange the share exchange to prevent any potential discord on management control between her two children.

Since then, Chung Yoo-kyung, a graduate of worldly renowned Rhode Island School of Design, has been putting efforts to grow the group’s fashion business by introducing not only import brands but also own fashion labels.

Shinsegae International that mainly focuses on female apparel lines has recently opened another new male fashion brand Comodo Studio after Codomo Square it acquired in 2012 has generated handsome revenue. The male clothing brand Comodo Square delivered 33 billion won ($29.5 million) in sales last year and grew by more than 30 percent in just two years.

The retailer also launched its own men’s clothing line Man on the Boon that recently opened its first store in Shinsegae’s new shopping mall Starfield Hanam and plans to open a total of 10 new shops by the end of next year.

The company also expanded its female clothing lines with newly added V Lounge brand and luxury lineup of its steady-seller Tomboy to capture the local fashion market seeking easy-to-wear clothes.

Additionally, Shinsegae International opened an online shopping mall named SI Village that carries luxury foreign fashion brands including Marni, Giorgio Armani, and Maison Margiela the retailer imported in a bid solidify its business with overseas labels.

By Park In-hye

[ⓒ Pulse by Maeil Business News Korea & mk.co.kr, All rights reserved]