ASCO
Corporate logo | |
Native name | 아스코 |
|---|---|
| Public | |
| Traded as | SSX: ASC |
| Industry | Grocery, supermarket, electronics and fashion retailing |
| Founded | December 21, 2001 |
Area served | Anikatia (since 2001) Kolenomai (since 2010) |
Key people | Park Yong-jin, President & CEO |
| Products | Consumer goods |
| Revenue |  UR$10.7 billion (FY 2014) |
Number of employees | 32,210 |
| Website | ASCO official site |
ASCO (Anikatian: 아스코) is an Western-owned, Anikatian-founded chain of supermarkets, department stores and shopping centres, Its head office is in Antiytia. The name was originally an acronym for the full title the Anikatian Stores and Markets Company (Anikatian: 안니카탸 상점과 시장 회사), However, as of March 1, 2011, all stores under the brand have officially changed their names to ASCO. The large chain of Anikatian supermarkets, shopping centres, and department stores are now wholly owned by the multinational retailer Babazaar.
History
The group was established in 2001 formed by the privatisation of the state-owned Department Stores, that were broken up to form the Huadai Department Stores and Sunwoo Department Stores and others. The company initially enjoyed success expanding its presence but as it grew it began to suffer against it's larger competitors. Western firm Babazaar came to the rescue and bought a 38 percent stake in ASCO in 2002. In 2003, ASCO and Babazaar signed a partnership agreement in which Babazaar would teach global supply chain practices Namju, Anikatia was the site of the first ASCO store using Babazaar methods. In late 2005 Babazaar acquired a majority stake in the company, which it has since increased to 100% ownership in 2008. Previously, the company had a registered office in Antiytia.
International operations
Kolenomai
In 2006 the first ASCO store outside Anikatia was opened in the capital of Kolenomai, as a jointly-owned company with two local companies, known as Chiến Thắng ASCO. It was the first time that an Anikatian company had entered into a significant joint venture in the Kolenomese retail industry. ASCO assumed total operational control of the chain in 2009. Currently. there are 10 ASCO Retails stores and shopping centres are in operation in Kolenomai.