SSG.COM to Spin Off Lifestyle Division, Launch New 'SSG.COM' Entity

[Financial News] SSG.COM will spin off its lifestyle business division and establish a new company tentatively named 'SSG.COM.'
SSG.COM said it held a board meeting on the 27th and approved the spin-off plan for its lifestyle business division. The company plans to seek approval for the split at an extraordinary shareholders' meeting at the end of October and proceed with the related process, with December 1 set as the spin-off date.
After the split, SSG.COM will remain as the surviving company, while the new entity will become SSG.COM. SSG.COM will focus on strengthening its existing commerce business, including grocery-oriented online shopping. SSG.COM plans to upgrade into a premium e-commerce platform by expanding customer experience and services centered on fashion, beauty, and lifestyle.
Even after the split, customer touchpoints and business links between the two platforms will be maintained. Customers will be able to purchase products through the SSG.COM app by connecting to the SSG.COM platform. At the same time, SSG.COM plans to strengthen its own platform while expanding customer touchpoints by linking with various channels, including SSG.COM.
A SSG.COM official said, "Through the spin-off, we expect to enhance the expertise of each business and respond more quickly to market changes based on an independent decision-making structure." The official added, "Even after the split, we will continue to maintain customer touchpoints and necessary business links while steadily strengthening our competitiveness."
[email protected] Lee Jeong-hwa Reporter