History
In the 1980s, E.Land Group revolutionised the retail channel by pioneering new markets using a franchising system. Franchising system is one of the most profitable forms of retail distribution due to its low initial investment requirement when opening new stores. Its first ever brand was called "England", which later changed to "E-Land" due to restrictions on trademark registration.
During the Asian financial crisis of 1997, E.Land Group successfully carried out several corporate reform initiatives, including corporate restructuring, overhaul of its finances and transformation of its management system. As a result, E.Land Group became the 37th largest corporation in Korea (excluding SOE's) with assets totalling over 2 billion USD as of the end of 2005.
E.Land Group transformed Korean apparel retailing, which was historically divided into high-priced department stores and low-priced traditional markets, by creating a new medium-priced market using street shops. This market has now grown to over USD 20 billion in 2006.
E.Land Group currently takes part in fashion apparel, hypermart retail, fashion outlet malls, department stores, hotels and restaurant businesses.
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