SSG.com acquires W Concept
SSG.com, Shinsegae Group’s e-commerce arm, has acquired W Concept, a Korean online fashion platform. SSG.com is working on increasing its online fashion business, and with W Concept being one of Korea’s largest department stores, they had been eyeing the company for some time. The deal would see SSg.com acquire 100 percent of W Concept from IMM Private Equity and ISE Commerce. The deal is still contingent on approval from the Korea Fair Trade Commission. W Concept has a membership program of five million people and has a number of exclusive fashion partnerships. They also operate their own Frontrow brand. W Concept currently has a 30 percent share of Korea’s digital womenswear market, as reported by The Korea Times. Recently, the company has been positions itself to be slightly more luxury. The company continues to work on expanding its brand competitiveness through a very selective buying process.