Hanssem (009240.KS) is strengthening its competitiveness in the business-to-business (B2B) bulk sales market by absorbing its subsidiary Hanssem Nexus, a high-end kitchen and interior specialist. The strategy aims to cement its leadership in the increasingly premium-oriented construction and real estate markets by combining the strengths of both companies.
Hanssem announced Tuesday that it will absorb Hanssem Nexus, its wholly owned subsidiary, through a merger that will not involve the issuance of new shares.
The company plans to restructure its B2B business in the second half of the year by integrating the capabilities of its headquarters' bulk sales division with those of the Nexus B2B organization.
Hanssem expects the merger to generate synergies by combining its "infrastructure" with Nexus's "high-end expertise." The bulk sales division at Hanssem possesses a strong network with Korea's major construction companies, as well as supply chain management (SCM), IT systems, marketing, rigorous quality assurance (QA), and systematic construction management capabilities at the headquarters level. By adding Nexus's strengths in sales to developers and reconstruction associations, as well as its specialization in premium project execution, the company plans to enhance its B2B business competitiveness.
Leveraging Nexus's capabilities, Hanssem plans to target the ultra-luxury residence bulk sales market, including the premium redevelopment and reconstruction markets in key Seoul Han River belt areas such as Apgujeong, Seongsu, and Hannam. Based on its expertise in providing one-stop services from design to construction and post-installation quality management, the company aims to expand its presence in the premium residential market as well as the existing apartment sales market.
"This merger is a decision to innovate our B2B business competitiveness by combining Hanssem's top-tier infrastructure in the home interior industry with Nexus's high-end expertise," a Hanssem official said. "We will further solidify Hanssem's position in the high-value-added bulk sales market, including key areas of Seoul."
