Fashion Group Hyungji is gearing up for a renaissance in the mature fashion market by expanding its multi-brand stores and enhancing its product line. This year, the company is rolling out an aggressive marketing strategy aimed at dominating market share.
The success of their ‘Crocodile Lady and Castelbajac Dongdaejeon store,’ which opened last October, has proven the potential of their multi-brand concept. Since its debut, this location has raked in annual sales of 10 billion KRW (7.5 million USD), solidifying its status as a retail powerhouse. The store’s triumph lies in its ability to blend traditional women’s wear with sportswear, attracting a diverse clientele of both men and women.
Riding this wave of success, Fashion Group Hyungji plans to launch about 20 large multi-brand stores in prime locations across the country this year. They’re not stopping at just clothing brands either – the company is set to diversify its retail model by incorporating accessory brands like Hyungji Esquire, with the goal of establishing these locations as regional fashion hubs.
When it comes to product development, the company is focusing on ‘three-season basics’ to adapt to our ever-changing climate. They’re also expanding their range to include items that tick all the boxes for today’s discerning shoppers, like scented fabrics and eco-friendly materials. Through their ‘New Senior Research Institute,’ they’re continuing to craft products tailored specifically for their mature customers who have serious spending power.
By leveraging their strategic multi-brand stores that offer both clothing and accessories, coupled with competitive pricing, Fashion Group Hyungji is poised to cement its reputation as the go-to destination for mature fashion. It’s clear they’re ready to write the next chapter in their success story.
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