South Korea's Hyundai Department Store Group is about to join the country's fashion top table. At a cost of $284.5m (KRW330bn) it is buying SK Networks Co's fashion division to create a powerhouse with KRW1.3trn in annual sales, positioned just behind E-Land, Samsung C&T and LF. Acquisition-hungry Hyundai will incorporate SK's 12 fashion brands into its own high-end women's fashion subsidiary The Handsome, acquired in 2012. The SK fashion division includes six licensed brands – Tommy Hilfiger, DKNY, Club Monaco, American Eagle Outfitters and Canali – and six own brands, which include Obzee, O'2nd and Rouge & Lounge. It has about 800 retail units, mostly department stores.

Illustration 'Hyundai buys SK Networks' (png - 0.27Mo)