CEO Im Il-soon has been leading the retail chain giant since October 2017.
“I am certain that despite the cutthroat competition we can stand as a new force in the retail sector with our hard work. Because we will maximize our excellent distribution capacity, while striving toward a sustainable business model, with the entire organization taking part in such an endeavor,” Im said in the letter posted on the company board.
|Homeplus CEO Im Il-soon (left) shakes hands with an employee at the retailer’s Incheon Gyesan branch. (Homeplus)|
The company explained that the CEO’s letter, addressed to some 24,000 executives and workers, was aimed at helping diminish widespread concerns about the market slump.
While thanking employees for supporting her leadership so far, Im acknowledged that the industry is facing uncertainties, including excessive competition, declining sales and soaring costs on top of heavy regulations.
Noting that such challenges especially in the offline market were long foreseen, she said that the core issue is the rapid changes in customers’ needs.
Emphasizing that Homeplus has been preparing for the future, Im said the company is taking steps to become the “most efficient retailer.”
She said the main focus will be expanding Homeplus Special -- which combines existing large markets into warehouse discount stores -- reinforced mobile delivery business, upgrading the Corners multiplex shopping centers and strengthening data collecting capacity. (firstname.lastname@example.org)