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Royal Lounge Properties launches branded residences advisory division in Abu Dhabi led by Randa Mustafa

Abu Dhabi-based premium real estate consultancy Royal Lounge Properties has launched a dedicated Branded Residences and Private Client Advisory Division, led by its managing partner and chief executive, Randa Mustafa. The division will advise high-net-worth individuals, family offices, international investors and long-term UAE residents and visitors on the acquisition, ownership, management and…

Royal Lounge Properties launches branded residences advisory division in Abu Dhabi led by Randa Mustafa

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LF Networks was fined 400 million won... promotional costs were passed on to suppliers. LF Networks, a major domestic clothing company, was fined 400 million won by the Fair Trade Commission for passing on promotional costs to its suppliers. On the 22nd, the Fair Trade Commission announced that it had imposed a correction order and a fine of 400 million won on LF Networks for violating the unfair trade practices of large retailers. According to the Fair Trade Commission, LF Networks, which operates the popular clothing brands 'Tanto,' 'NINE WEST,' and 'RECIPE,' signed a contract with suppliers to pay for advertising and promotional expenses, but in reality, it passed on the costs to its suppliers. Between January 2019 and June 2021, LF Networks collected a total of 1.43 billion won in advertising and promotional expenses from 35 suppliers and used them for its own promotional activities. In particular, LF Networks not only collected advertising and promotional expenses from suppliers but also unilaterally decided on the details of the promotional activities, such as the timing and method of advertising, and the selection of promotional items. The Fair Trade Commission criticized LF Networks, saying that it abused its superior position to harm the interests of its suppliers. An official from the Fair Trade Commission said, "Large retailers should bear the costs of promotional activities themselves, and we will continue to crack down on unfair trade practices that harm suppliers."

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