"Choi Junho's New Business Success"... Hyungji Elite Approaches 100 Billion KRW Annual Sales

Individual Sales of 92.9 Billion Won... 73% Increase Year-on-Year
Achievements in Sports Commercialization Business and MRO
Accelerating Targeting of China and ASEAN Markets

Hyoungji Elite is on the verge of achieving annual individual sales of 100 billion KRW. Not only its core businesses such as student uniforms, which hold the number one market position, but also new businesses aggressively pursued under the leadership of President Choi Junho have secured stable growth momentum, raising expectations that sales will exceed 100 billion KRW next year.

Choi Junho, President of Hyungji Elite
[Photo by Hyungji Elite]

According to the Financial Supervisory Service's electronic disclosure system on the 15th, Hyoungji Elite, a corporation with a fiscal year ending in June, recorded individual sales of 92.9 billion KRW, a 73% increase compared to the previous year.

While existing businesses such as student uniforms and corporate group uniforms continued steady growth, the company analyzed that the sports merchandising business and corporate consumables distribution (MRO) new businesses, led directly by President Choi, delivered results beyond expectations. Sales in core business sectors including student uniforms, corporate group uniforms, and sports merchandising increased by approximately 18.2 billion KRW year-on-year, and sales of 21 billion KRW from the MRO sector were also reflected in this performance.

Earlier, Hyoungji Elite introduced differentiated uniforms combining unique materials and functionality through continuous research and development, achieving the highest winning rate in the '2023 Academic Year New Student Uniform (Winter Uniform) School-Directed Purchase System' bidding.

The sports merchandising business, which started in 2020, is also expanding. The company supplies goods to professional baseball teams such as SSG Landers and Hanwha Eagles, and this year signed a contract with JTBC's popular entertainment program "Choi Kang Baseball."

In overseas business, Hyoungji Elite entered the local uniform market by establishing Shanghai Elite in partnership with "Bono," a subsidiary of Baoxiniao Group, a leading Chinese fashion company, in 2016. Following the transition to endemic (periodic infectious disease outbreaks) and the resumption of school attendance, demand for uniforms has increased, and growth continues as Chinese consumers show a preference for premium uniforms.

Additionally, the company is pursuing entry into Indonesia, the most populous ASEAN country with a young population possessing purchasing power. President Choi recently accompanied President Yoon Suk-yeol on his visit to Indonesia, meeting key figures in politics and business, and signed a memorandum of understanding (MOU) with the Indonesian Retailers Association (APRINDO), putting considerable effort into expanding local business.

In the MRO business launched at the end of last year, the plan is to unify the purchase production of over 20 group brands under Hyoungji Elite within the year to create synergy among affiliates. Furthermore, the company intends to expand its scope through direct factory operations targeting the domestic and international B2B market and global sourcing.

A representative from Hyoungji Elite stated, "With the expansion of operations in the Chinese market and the full-scale entry into Indonesia, which has emerged as a new consumer market, we expect a steep growth trajectory to continue."

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