[Click eStock] "GamSeong Corporation, Outdoor Brand 'Snow Peak' Growth Potential↑"

[Asia Economy Reporter Ji Yeon-jin] Leading Investment & Securities forecasted on the 14th that Gamseong Corporation's overseas licensed Japanese outdoor brand 'Snow Peak' is expected to have high growth potential and will enter a full-scale profit increase phase starting next year.

Gamseong Corporation started as IOSYSTEM in 1991 and was listed on KOSDAQ in January 2000 under the name 'Virtualtec,' a manufacturer of mobile accessories. In May 2019, it established the apparel company 'Devgru,' and after launching Snow Peak Apparel in February last year, it changed its company name to 'Gamseong Corporation' in March this year. It is currently pursuing a merger with its subsidiary 'Devgru.'

Snow Peak holds the licensing rights for 'Snow Peak Outdoor Apparel (clothing, shoes, hats, etc.)' in 'Korea, China, and Taiwan' through a licensing agreement with the Japanese camping gear brand 'Snow Peak.' Originally, Snow Peak operates its overseas subsidiaries 100% directly, but it issued its first overseas license to Gamseong Corporation.

Snow Peak's distribution channels expanded from 53 last year to about 70 as of June this year. It is expected to exceed this year's target of 80 distribution channels and expand to approximately 85-90 by the end of this year. Researcher Yuseongman from Leading Investment & Securities said, "Snow Peak is a new brand that has emerged in about four years among outdoor brands that possess both brand value and quality, and it is judged to bring freshness and high future growth potential to the outdoor market," adding, "It has upside potential with domestic distribution channels possibly increasing by up to 2.5 to 3 times."

If this brand secures its position in domestic distribution channels, entry into duty-free shops and expansion into mainland China are also anticipated. Additionally, its core business, mobile device accessories (ACTIMON), records annual sales of approximately 12 to 13 billion KRW and annual operating profits of around 1 billion KRW.

This content was produced with the assistance of AI translation services.