How Fashion Group Hyungji is Revolutionizing Senior Fashion with Mega Stores in 2023

| Seoul – By Jennifer Harper, Lifestyle Correspondent | Fashion Group Hyungji has kicked off its key marketing strategies for the year, focusing on expanding its multi-brand stores and beefing up its product offerings. The company aims to usher in a “second golden age” as a leading fashion brand for the mature market, as announced on February 10.

Hyungji is doubling down on its multi-brand store concept, which was first introduced last year with great success. The company plans to rapidly increase the number of these stores while simultaneously enhancing its value proposition and product competitiveness to capture a larger market share.

The ‘Crocodile Lady and Castelbajac Dongdaejeon Store,’ Hyungji’s first multi-brand outlet opened last October, has already proven the potential of this strategy. By bringing together the loyal customer base of the classic women’s wear brand ‘Crocodile Lady’ with the sporty offerings of ‘Castelbajac,’ the store has attracted a diverse clientele of both men and women. This successful blend has put the Dongdaejeon location on track to become a ‘mega store,’ with projected annual sales of 1 billion KRW (about 750,000 USD) since its launch.

Encouraged by the positive reception of these multi-brand stores, Fashion Group Hyungji is now looking to diversify its retail model even further. The company plans to incorporate accessories brands like Hyungji Esquire alongside its clothing lines. With a goal of opening around 20 large multi-brand stores in prime locations nationwide, Hyungji aims to establish regional flagship stores to drive growth.

On the product front, Hyungji is adapting to climate change and blurring seasonal boundaries by strengthening its ‘three-season basic items’ to boost sales during traditionally slower periods. The company is also expanding its range to meet evolving customer preferences, including introducing scented fabrics and eco-friendly materials.

A spokesperson for Fashion Group Hyungji stated, “We’ve been laser-focused on our mature customers with strong purchasing power. That’s why we launched the New Senior Research Institute last year – to really nail our product planning and customer service. By leveraging our strategic multi-brand stores that offer both clothing and accessories, coupled with our competitive pricing, we’re set to cement our position as the go-to fashion brand for the mature market and kick off our second golden age.”