Global expansion, premium and men’s strengthening strategies
This year, the Athleisure market is expected to continue to grow with the popularity of training clothes such as one-milewear leggings, thanks to consumer trends in home training and exercise. According to data from the Korea Fashion Industry Institute, the domestic athlete market more than doubled from four years ago to 3 trillion won in 2020. Along with the rapid growth of the market, Seximix, Andar, and Mula, the representative runners of the domestic Athletics, have attracted various issues due to overheating such as advertising, sale competition, and controversy over power abuse. These three companies avoided direct competition with other companies this year and set out differentiation strategies to settle in the market.
SEXMIX entered the NFT market for the first time in the Athleisure industry this month. It unveiled its digital character “Jessia” and presented and sold NFT works that applied popular product designs.
SEXMIX expands to overseas NFT Art Kids Golf
Last year, the D2C business using its mall and the product luxury strategy developed by its own R&D center worked. Last year, more than 2 million customers joined the company’s Among them, customers who repurchase will have a stable purchasing base of more than 85%. Among leggings sales, sales of the premium line “Black Label” series exceeded 55%. Based on this, sales of SEXMIX surged 33 percent year-on-year to 145.3 billion won.
This year, it will focus on expanding its contacts with overseas customers by entering offline stores in eight foreign countries, including Japan, Hong Kong, New Zealand, and Mongolia, and establishing a Chinese subsidiary. It plans to expand distribution channels by opening offline stores mainly in commercial districts with a large floating population. In December last year, Hong Kong opened a 63.8m( (about 19.3 pyeong) offline store in Times Square, a large shopping mall located in Causeway Bay.
It plans to expand new obedience categories such as Kids by entering the golf wear market in April. Its strategy is to grow beyond yoga clothing brands into total brands. It will continue to introduce new accessories such as Seximix Cosmetics, Men’s Line, and Shoes, which were launched last year.
SEXMIX entered the NFT market for the first time in the Athleisure industry this month. On the 11th, the digital character “Jessiah” of SEXMIX was unveiled and NFT works applied with popular product designs were presented and sold. A limited edition NFT art containing brand identity was sold out two days after its launch, which was evaluated as increasing brand value.
Andar uses marketing know-how and big data from its parent company Eco Marketing to reflect product planning, design and production, improve product quality, and catch customer needs that are specialized in time.
Andar meets customer needs with eco-marketing know-how Leica fabric.
Andar uses marketing know-how and big data from its parent company Eco Marketing to reflect product planning, design and production, improve product quality, and catch customer needs that are specialized in time. Andar was acquired by D2C commerce company Eco Marketing in June last year and announced its good performance. After the transfer, sales reached about 60 billion won in the second half of last year. Total sales in 2020 amounted to 76 billion won. Last year, its own mall sales accounted for more than 72 percent of the total. Customers who repurchased their own malls have more than 60%, and unit prices have doubled compared to the previous year. As of this month, the number of members of the company’s mall exceeded 2.25 million.
Andar, which focused on D2C Mall last year, creates synergy through online and offline channels to provide consumers with brand experience elements this year. Its goal is to increase corporate value as a premium athlete brand by focusing on flagship stores and department stores that also serve as yoga studios.
Andar signed a global license contract with global spandex brand ‘Lycra Company’ late last year. It is the only Korean brand to use “Lycra Sports Black Label.” Its ambition is to introduce global standard products as premium yarn. It will expand its “sustainable collection” that recycles state-of-the-art microfiber fibers “Primaroft” used by U.S. special forces, eco-friendly fibers “Tencel Modal” fabrics, and waste fabrics or waste waste waste bottles. It plans to expand its leggings lineup this year and focus on expanding sales of men’s clothing, home training supplies, and miscellaneous goods.
Mullaware, which has established itself as a high-quality yoga clothing brand, plans to strengthen its product line by unveiling a newly developed leggings material that provides extreme comfort in the second half of this year.
Multimodalization of Mullamans, Marketing Team Model Profit
MULA achieved a repurchase rate of 60% last year and a cumulative 1 million subscribers (four times growth compared to 2019). By dualizing Mullaware and Mullamans, it will increase the independent brand power, not the “Men’s Line” of yoga clothes brands.
Mullamans, which was launched two years ago, is on a high growth trend with a goal of 10 billion won in sales this year. Since its launch, it has put forward a specialization strategy in line with the needs of “health high-interest women.” Among the “Fidget Up Series,” which developed optimal fit options through various body type studies of Koreans, the physical up-short sleeve achieved 95% sales last year. Mullamans’ growth rate in the second half of last year more than doubled (122%) compared to the first half of last year.
Mullaware, which has established itself as a high-quality yoga clothing brand in Korea, is planning to strengthen its product line by unveiling a newly developed “leggings material that provides extreme comfort” following Neoflex, Noblux, and muse fabrics in the second half of this year. The consumer group is targeting women aged 28 to 32.
In the future, it will appeal as a younger brand than “professional leggings.” The goal is to make it a “platform for target consumers to have fun” by turning brand stories, employee interview content, and mula fabric into content in its mall. The collection pictorial is released every one to two months to propose an Athleisure styling.
Mula strengthens its own performance marketing organization and catches two rabbits: its mall and outsourcing projects. The performance marketing team was organized into a separate organization called Performance M to model profits. Mula Performance M’s marketing know-how is to help other brands’ marketing projects. Performance M is currently working on about 10 outsourced marketing projects. Performance M has set a monthly sales target of 1 billion won to 1.5 billion won this year.
Source: Korea Textile Newspaper (http://www.ktnews.com)