Dual Focus on Core and New Businesses... Hyungji Elite's Sales Up 73%

Driving Growth in School Uniform and Sports Commercialization Businesses

Hyoungji Elite announced on the 20th that its 'two-track strategy,' which strengthens expertise in its core student uniform business and actively fosters the new sports merchandising business, is yielding results.

Hyoungji Elite's individual sales for the 22nd fiscal year (July 2022 to June 2023) increased by 73% compared to the previous year. Student uniform sales rose by about 20%, from 40 billion KRW to 47.9 billion KRW, maintaining the number one bid rate in the 'school-organized purchase system.'

Along with the start of President Choi Junho's management system, the sports merchandising business, nurtured as a new business, also grew by about 100%, from 5 billion KRW to 9.9 billion KRW this year. Since entering the sports merchandising business in 2020, Hyoungji Elite has supplied goods to professional baseball teams such as SSG Landers and Hanwha Eagles, and this year secured a contract with JTBC's popular variety show 'Choe Gang Baseball,' establishing a foothold in the market.

With balanced growth in both the core and new businesses, Hyoungji Elite's individual sales reached 92.9 billion KRW, approaching an annual sales milestone of 100 billion KRW. This positive trend is expected to continue for the time being. In the student uniform sector, the strategy is to secure additional stable sales by strengthening competitiveness in sportswear. The industry’s first dedicated sportswear team was established, introducing trendy sportswear products such as baseball jumpers and anorak styles, which received favorable responses.

In the Chinese school uniform market, demand for uniforms is increasing after the endemic (periodic outbreak of infectious diseases), and with local consumers' growing preference for premium uniforms, growth is expected to continue.

Recently, Hyoungji Elite was selected as the lead company for a project worth 7.4 billion KRW, titled 'Development of an Intelligent Technology-Based Personalized Style Platform for Future Market Services,' promoted by the Ministry of Trade, Industry and Energy.

A representative of Hyoungji Elite stated, "While securing competitiveness in our core fields, we will quickly respond to changes across the industry, such as digital transformation, and continue our steady growth."

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