Cowell Fashion to Pay Year-End Performance Bonuses at 150% of Salary to Employees

[Asia Economy Reporter Seungjin Lee] Cowell Fashion will provide year-end performance bonuses to all employees.

On the 24th, Cowell Fashion announced that despite the challenging business environment due to the ongoing COVID-19 pandemic, it has recorded strong performance and expressed gratitude to its employees by providing year-end performance bonuses to all staff.

A Cowell Fashion representative stated, "We have been awarding performance bonuses annually as a reward for employees' efforts to achieve steady external growth," adding, "This year, based on employee performance evaluations, we plan to provide up to 150% of the monthly salary in treasury stock, and considering the performance bonuses paid in the first half, the total for this year will reach up to 300%."

Cowell Fashion recorded strong performance every quarter through the third quarter of this year. By signing new contracts, it launched various brands this year, demonstrating its capability in managing global brands.

On the 21st, Cowell Fashion completed an agreement for a FIFA brand license contract and is preparing to finalize the main contract. Centered on the newly established Brand Business Division, the company plans to relocate its office to Seoul to successfully launch the FIFA brand and enhance work efficiency. It intends to consolidate the design, sourcing, and sales teams, which are currently scattered between Pangyo and Seoul, into one location to facilitate work sharing and active communication. The relocation is expected to be completed by January next year.

A Cowell Fashion representative said, “Through the global-scale brand expansion in 2022, we are preparing to expand offline channels as a new distribution network and create opportunities for overseas market entry,” adding, “To strengthen employees’ motivation and sense of ownership for new challenges, we decided to provide year-end performance bonuses in the form of treasury stock.”

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