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ABC-MART acquires South Korean shoe select shop 'FOLDER' business
ABC-MART, INC. <2670> announced after the close on Monday that its South Korean subsidiary, ABC-MART Korea, received regulatory approval to acquire the FOLDER footwear retail business from E-Land World, a major South Korean apparel and retail group.
FOLDER is a footwear specialty chain known for its curated product lineup centered on global brands and value-added offerings. It operates 35 directly managed stores in major South Korean cities, with annual sales of approximately 100 billion won. The acquisition aims to bolster the ABC-MART group's presence in the South Korean market. Financial terms were not disclosed. The company said the impact on its earnings forecast for the fiscal year ending February 2027 is currently under review.
Source: MINKABU PRESS
*Translated by generative AI. Click here for the original article.
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