EcoMarketing Acquires 56% Stake in Andar

[Asia Economy Reporter Junho Hwang] Eco Marketing announced on the 26th that it has decided to acquire 2,724,456 shares of the clothing manufacturer Andar through participation in a paid-in capital increase for 19,343,640,000 KRW. After the acquisition, the shareholding ratio will be approximately 56.37%.

The company stated, "By acquiring a major brand company in the rapidly growing athleisure market, we aim to secure new domestic and global sales growth engines, and by securing new captive markets beyond Daily&Co and Gluga, we will strengthen our stable and continuous profit-generating capabilities and maximize synergy effects among affiliates."