Background of Homeplus

2181 WordsFeb 12, 20139 Pages
Background of Homeplus “Homeplus” was initially owned by Samsung Corporation[1] in 1994. During the Asian financial crisis in 1997, Samsung was affect by the crisis and tried to strive its business in the retail industry. It eventually collaborated with Tesco, a major British retailer in 1999[2]. The joint venture benefited both Samsung and Tesco. Samsung was saved from bankruptcy, in the same time, Tesco was able to enter the tough local retail business because of the partnership with Samsung[3]. Tesco took over 94.68% shares of the company in 2011[4]. Vision - Great Stone Face Homeplus’s vision is to be recognized as the most admired company in South Korea[4][5][6][8]. The company concerns with two major…show more content…
The first floor is equipped with food courts, children’s playrooms and other service facilities where the second and third floors are the supermarket and products display[4][6][7]. 3rd Generation The 3rd generation was first introduced in Jamsil 2007[6][7]. Homeplus added “Emotional Store” to the 2nd generation, offering art and culture to customers. Moreover, the “Emotional Store” adopts four concepts of Art – being, Well – being, Touching and High Technology to the store[4][6][7]. In other words, it combines art with science, so called “artience” environment to customers. This include art galleries and function rooms located on the fourth floor expansion of the hypermarket[1][6]. Hence, the “Emotional Store” concept consisted of “One Stop Shopping Service”, “One Stop Living Service” and “One Stop Touching Service”. 4th Generation Homeplus recently introduced a new concept for the 4th generation in 2011[6][7]. This radical shift differed from other development phases where it combined the services both online and offline shopping and created a new innovative shopping concept. The “Smart Virtual Store” concept was developed and it became the first virtual shopping concept in the world[1][8]. The “Smart Virtual Store” provides a new way of shopping in subway stations. It aims to persuade customers to shop “Anywhere, Anytime and Anyplace” regardless time and space[6][7]. The concept was created inversely to

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