'Slowing Growth'... Golfwear Brand Seeks Opportunities Overseas

Major Department Store Golf Wear Sales Growth Slows
Wak, Apsse Golf, Volvik Apparel Expand Overseas Markets

As the growth of the domestic golf wear market slows down, companies are turning their attention overseas in search of new growth engines. They are expanding their horizons not only to Japan and China, where demand for ‘K-fashion’ is high, but also to the United States, the birthplace of golf.

According to the department store industry on the 7th, Hyundai Department Store’s golf wear sales from January to November last year increased by 38.8% compared to the previous year. Considering that golf wear sales from January to November 2021 increased by 65.5% compared to the previous year, the growth rate has dropped by more than 20% in just one year. During the same period, Shinsegae Department Store’s golf wear sales growth rate also fell significantly. Shinsegae Department Store’s golf wear sales from January to November last year increased by 37.2% compared to the previous year, nearly 20% lower than the 2021 growth rate of 56.3%.

As the growth environment deteriorates, major domestic companies are seeking breakthroughs overseas. Kolon Industries FnC (hereinafter Kolon FnC) is actively moving with its golf wear brand ‘WAAC’. In May last year, Kolon FnC established a new corporation, Supertrain, and spun off the WAAC business division into a subsidiary. Taking this opportunity, they opened additional local stores in Japan and China and expanded into the United States for the first time last year. They are scheduled to participate in the world’s largest golf exhibition, the ‘PGA Show,’ at the end of January.

IDLOOK’s ‘A.P.C Golf’ is also expanding its presence in Europe following its launch in Japan last year. Although it is still early to discuss specific entry plans, the strategy is to gradually grow the scale from accessories to golf wear. A.P.C Golf targeted the market by adding a free-spirited atmosphere to the classic style that A.P.C has maintained, appealing to the sensibilities of MZ generation (Millennials + Generation Z) golfers. After opening its first store at Shinsegae Department Store Gangnam branch in February last year, it recorded the highest sales ever for a golf brand on the day. In March of the same year, it achieved sales in the low 400 million KRW range, exceeding its target by more than 30%. Currently, it is expanding its target to include not only the MZ generation but also middle-aged and older customers, showing a stable performance trend.

Volvik Apparel is also actively considering its first overseas expansion. After conducting market tests targeting various countries including the Americas, Europe, Asia, and Southeast Asia, it plans to select the final target country. The target entry time is 2024.

Castelbajac is considering overseas expansion by signing license agreements with major partners. The primary target is the Greater China region. Currently, Castelbajac has contracts with China’s ‘100 Golf’ and Taiwan’s ‘King Bon’. 100 Golf is known as one of China’s largest online golf equipment specialty malls and holds the local brand business rights for the American golf brand ‘PGA Tour’ in China. A Castelbajac official explained, “Although we are not exporting directly or establishing branches, we are considering expanding overseas markets through license agreements. Especially in China, it is meaningful in terms of quickly securing online distribution channels.”

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