SEOUL, January 08 (AJP) - Shinsegae Casa said on Wednesday it has completed the acquisition of the operating business of lifestyle brand Jaju, finalizing the transaction on Dec. 31 as it moves to broaden its portfolio beyond furniture.
The company said the deal will help expand its business scope from home interiors to everyday lifestyle categories such as household goods and fashion, reducing earnings volatility tied to housing cycles and construction market conditions.
Shinsegae Casa, which posted revenue of 270 billion won ($200 million) last year on the back of its flagship furniture brand Casamia, said it now aims to lift sales to 500 billion won this year as Jaju and its newly launched fashion label Jaa are added to the group.
The company said it will operate six lifestyle brands and platforms — Casamia, Materasso, Cucine Lella, Good.com, Jaju and Jaa — while stepping up efforts to generate synergies across product planning, distribution, marketing and sourcing.
In a statement, a Shinsegae Casa official said, “This acquisition provides a solid foundation for us to scale up our business and emerge as a leading player in South Korea’s home-furnishing market. Going forward, we will redefine the industry landscape by delivering a differentiated value proposition centered on premium lifestyle sensibilities.”
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