CJ ENM Strengthens 'Basquiat' IP... Aims to Achieve 400 Billion KRW in Cumulative Orders Next Year

Creative Director Hong Seungwan Highlights This Year's Golf Wear Trends
'New Luxury,' 'Casualizing,' and 'Iconic'
Expansion of Premium 'Basquiat Brooklyn' and MZ's 'Jean-Michel Basquiat' Lines

Hong Seungwan, Creative Director of CJ ENM, is presenting this year's golf wear trends at the 'Basquiat Brooklyn 2022 Fall/Winter Preview Media Session' held on the 10th at CGV Cheongdam Cinecity in Gangnam-gu, Seoul.

[Asia Economy Reporter Yuri Kim] "Our goal is to achieve a cumulative order amount of 400 billion KRW by next year."

CJ ENM is diversifying the Basquiat brand by expanding its sales channels beyond home shopping to department stores and broadening the target age group to include people in their 20s. Choi Yohan, head of fashion products at CJ ENM's commerce division, said at the 'Basquiat Brooklyn 2022 Fall/Winter Preview Media Session' held on the 10th at CGV Cheongdam Cine City in Gangnam-gu, Seoul, that they plan to diversify 'Basquiat' into three brands to build an IP fandom.

Since 2016, CJ ENM has held a licensing agreement with the 'Jean-Michel Basquiat' foundation and has been operating 'Basquiat Golf.' They aim to expand their customer base by adding premium and casual lines.

On this day, CJ ENM showcased the fall/winter flagship products of the premium golf wear brand 'Basquiat Brooklyn.' To position Basquiat Brooklyn as a high-end brand, they plan to sell primarily through department stores and fashion vertical platforms, not through their own channels such as TV home shopping or online malls. This strategy differs from that of 'Basquiat Golf,' which has been sold mainly through TV home shopping channels. Basquiat Brooklyn made its debut to customers with a pop-up store at The Hyundai Seoul department store in April and plans to open pop-up stores at Lotte Avenuel, Galleria Apgujeong, and Hyundai Department Store Trade Center branch. It has also been listed on platforms such as Musinsa Golf and The Cart Golf, a golf-specialized vertical application (app).

Starting from golf, the Basquiat brand is also expanding into a street contemporary brand targeting the MZ generation (Millennials + Gen Z). In mid-this month, they plan to launch a casual concept 'Jean-Michel Basquiat' in collaboration with BKAV (formerly Barrels). By combining BKAV's experience and capabilities, which owns leading domestic casual brands like Covernat and WARRIORSN, they aim to expand into new businesses targeting the MZ generation.

Choi said, "With stylish product designs and brand concepts reflecting golf wear trends, we will establish 'Basquiat Brooklyn' as a high-end golf brand favored by the younger generation. We will prove the strength of CJ OnStyle, which has surpassed 1 trillion KRW in fashion product handling volume, through the Basquiat brand."

Meanwhile, the rapidly growing K-golf wear market trend is analyzed to evolve with brands that are more expensive and scarce (new luxury), casualized mainly for the MZ generation, and characterized by distinctive personalities through character and logo play (iconic design). The Korean golf wear market size is expected to reach about 6.3 trillion KRW this year, growing more than 10% compared to last year.

Hong Seungwan, Creative Director at CJ ENM, said, "Unlike the US and Europe, where there is no separate attire, Korea and Japan show a uniquely developed golf wear zoning characteristic." He analyzed, "This is because, unlike the US and Europe where golf is regarded purely as a sport, in Korea and Japan, golf has developed as a 'culture' connected to business." Hong CD added, "After COVID-19, a large influx of 20s and 30s beginners and female golfers has formed a trend of consuming golf wear like luxury goods. By single-country standards, Korea's golf wear market can be considered the largest in the world."

He summarized the 2022 K-golf wear trends into three keywords. The first is 'new luxury,' meaning pricing policies and scarcity comparable to luxury brands. As more customers seek unique styles on the field rather than wearing the same clothes as others, golf wear production has shifted to small-batch, multi-variety manufacturing, leading to higher prices. The second is 'casualizing,' referring to non-traditional styles. The MZ generation prefers to wear golf wear differently from middle-aged groups, favoring new golf wear that can be used in diverse styles rather than the typical golf outfits enjoyed by older generations. Lastly, 'iconic design' refers to brands with clear identities that are easily recognizable through character and logo play, gaining great popularity like luxury brands.

(From the left) 'Basquiat Brooklyn', 'Basquiat Golf', 'Jean-Michel Basquiat'.

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