Sales reached 139.7 billion won! Korean sportswear may be a big hit

It is reported that the sudden outbreak of the epidemic has changed people's lifestyles and habits , and the sales of Korean sports and leisure clothing brands have increased sharply.

However, due to factors such as increased marketing and investment costs, companies that saw reduced operating profits or incurred losses did not receive any actual benefits in succession.

On the 18th, according to the electronic disclosure system released by the Financial Supervisory Service of Korea , Brand Excorporation , which operates the essleaser brand, had sales of 139.7 billion won last year , more than double the previous year (64 billion won), setting a record high.

It is understood that Brand Excorporation owns the sports and leisure clothing brand "Xexy Mix" , men's leather , fashion and sundry brands. Among them, the company achieved sales of 109.4 billion won through " Xexy Mix " alone.

Andar, a competitor of Xexy Mix, also achieved sales of 77.5 billion won last year, up 5.3% from the previous year.

Separately, Mule, which operates another casual clothing brand called "Mulaware," saw sales increase 53.1% from 29.5 billion won in 2019 to 45.3 billion won last year .

The development of sports and leisure clothing around the world and the popularity of indoor sports such as yoga and Pilates have affected the sales growth of sports and leisure clothing brands .

Due to the spread of the epidemic, people’s demand for “ One Mile Wear ” has increased, especially among consumers aged 20-30.

However, as competition became increasingly fierce, various management and sales expenses also increased, and performance was not ideal.

Andar reported an operating loss of 8.8 billion won last year, continuing its losses from the previous year. Mule reported an operating loss of 14.4 billion won last year , while Brand Excorporation posted an operating profit of 8.1 billion won, a decrease of 17.7%.

As Generation MZ (a compound term for Millennials and Generation Z) emerges, athletic apparel will continue to grow and the market outlook for these companies is bright .

Therefore, in order to increase sales and improve profitability, we need to diversify our product lines from low-priced to high-priced products while actively advancing into overseas markets.

Brand Excorporation has set a sales target of double last year's this year, driven by the Xexy Mix campaign. The battle for customers is intensifying as established fashion brands enter the sportswear market.

South Korea

clothing

Sales