Kolon FnC Surpasses 1 Trillion Won in 2021 Sales... Outdoor and Golf Effects 'Significant'

[Asia Economy Reporter Seungjin Lee] Kolon Industries FnC Division has succeeded in surpassing 1 trillion won in sales again in 2021 and is expecting a return to profitability. This is seen as a result of the advancement of existing brands including Kolon Sports and the success of a new portfolio of golf brands.

According to Kolon FnC on the 30th, this year's return to profitability is attributed to the successful rebranding of Kolon Sports, which has been underway since 2019, leading to significant growth this year. Due to COVID-19, new customers in their 20s and 30s have entered the market, greatly increasing sales of outdoor shoes and camping equipment. Additionally, brands around 10 years since their launch, such as Series, Customellow, and Henry Cotton, showed sales growth of about 10-20%.

The expansion of influence by golf brands is also notable. WAK, launched in 2016 targeting customers in their 20s and 30s, showed a sales growth rate of about 200% compared to the previous year, leading the character golf market. It has also expanded overseas by entering the Japanese and Chinese markets. Furthermore, the premium golf brand G/FORE, launched earlier this year, also led to strong sales. The golf-specialized platform "The Cart Golf," introduced in May last year, has seen both cumulative membership and average monthly transaction volume grow tenfold compared to the previous year.

Kolon FnC's digital transformation also shone this year. Since 2019, Kolon FnC has launched seven new brands, six of which are online-exclusive brands centered around Kolon Mall. The rapid growth of the online market due to COVID-19 and efforts to engage with the MZ generation (Millennials + Generation Z) proved effective, allowing these brands to quickly establish themselves in the market, Kolon FnC analyzed.

Based on the newly reorganized structure in 2022, Kolon FnC plans to take on challenges in various fields. A CSO (Chief Sustainability Officer) organization has been established to strengthen ethical awareness and social responsibility management in the fashion business. Han Kyung-ae, Executive Director who has overseen the upcycling brand Re;code for ten years since 2022, will support as the CSO General Director, marking the start of full-fledged ESG (Environmental, Social, and Governance) management.

Yoo Seok-jin, President of Kolon FnC, stated, “The visible figure is defined as 1 trillion won, but the meaning contained within is greater. Both the brands and the organization have improved their constitution, including the confidence to actively and proactively overcome any changes,” adding, “Kolon FnC now stands at the starting point for a leap forward. We will become a company that leads challenges to become a representative brand house leading K-fashion.”

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