ISEcommerce Receives Full Payment of 60.5 Billion KRW for W Concept Korea Sale

[Asia Economy Reporter Hyunseok Yoo] ISEcommerce, a leading company in the lifestyle culture brand based on e-commerce, announced on the 18th that the sale process of its 20% stake in W Concept Korea has been finalized, and the full amount of 60.5 billion KRW has been received.

With the inflow of funds from this sale, ISEcommerce plans to sequentially implement innovative changes and growth for the company over the three years from 2021 to 2023. First, to strengthen overseas sourcing, the company will expand connections with rapidly growing overseas brands (Emerging Brands) and develop and launch its own brand products to provide customers with differentiated and unique products. It also plans to achieve growth in terms of profitability.

Additionally, the company plans to sequentially promote strengthening core business capabilities such as IT and logistics and enter new businesses to achieve remarkable growth. A company official stated, “Although the first quarter results fell short of market expectations due to business structure reorganization, we plan to explore growth directions by optimizing the use of sale funds to strengthen organizational capabilities and distribution networks, as well as through system renewal and new brand development.”