Ex-Gucci CFO named head of Shinsegae International

Shinsegae International CEO William Kim (Shinsegae International)

Fashion and cosmetics retailer Shinsegae International said Tuesday it appointed a luxury fashion expert William Kim as its new CEO, in a bid to strengthen the company's luxury fashion business and sharpen the company's digital edge.

Kim's previous career includes having served as a chief financial officer at Gucci, where he worked in teams with partners including Stella McCartney, Alexander McQueen and a number of luxury timepiece brands including Bedat & Co.

According to Shinsegae International, Kim was also a senior vice president at Burberry, where he was in charge of the brand's digital commerce marketing.

He further spent three years in Samsung Electronics' mobile division as the executive vice president of the Global Direct to Consumer Center, during which he was in charge of managing the company's official website, external third-party digital platforms and global retail stores.

In regard to his extensive experience in the luxury fashion business and digital marketing, Shinsegae International said that with its recent appointment, the company aims to focus on and ramp up its fashion and cosmetics businesses moving forward, and also proactively respond to changes in the retail market by strengthening digital capabilities in its department store sector.

"With the appointment of William Kim as CEO, Shinsegae International also plans to spearhead further growth through mergers and acquisitions and international expansion," added an official from Shinsegae International.

The appointment comes amid Shinsegae International's efforts to ramp up its luxury brand business. The company currently faces a slew of luxury fashion brands launching their own corporations in Korea to directly sell their products, which before were sold exclusively at Shinsegae. Among brands that launched their own corporations are steady sellers Celine and Only the Brave, a global fashion group in possession of a number of popular brands including Maison Margiela, Marni and Jil Sander.

"Shinsegae International will continue to strengthen the company's core competitiveness through the introduction and operation of new innovative brands (with the new appointment)," said an official from Shinsegae International.

Meanwhile, the previous CEO of Shinsegae International Lee Gil-han will head a new promotion team in the department store sector. The newly established team will discover future food products to secure sustainable competitiveness in the department store sector and focus on innovating various new businesses.

By Lee Yoon-seo(yoonseo.3348@heraldcorp.com)