Great Value Fashion on the Rise... E-Land Retail Opens 5 NC Basic Stores Simultaneously

Successful Foundation with 3 Open Pilot Stores in September
Expanding Offline Stores Nationwide to Match 'Cost-Effective Fashion' Consumer Trend

E-Land Retail's fashion brand 'NC Basic' announced on the 15th that it simultaneously opened five stores in major locations in Seoul and the metropolitan area.

E-Land Retail, NC Basic
Photo by E-Land Retail.

NC Basic is expanding its offline stores in earnest by newly opening stores at 2001 Outlet Junggye Branch, NC Department Store Bulgwang Branch, Suwon Terminal Branch, Jungangno Station Branch, and Seomyeon Branch.

E-Land Retail first introduced 'NC Basic Pilot Stores' at three NC Department Store locations (Songpa Branch, Yatap Branch, Pyeongchon Branch) last September. Following the anticipated success, they sequentially opened stores last month at NC Department Store Gangseo Branch, NewCore Outlet Bucheon Branch, and this month at NewCore Outlet Gwangmyeong Branch and Sanbon Branch. With the number of stores opening simultaneously this time, the total number of NC Basic stores increases to 12.

The pilot stores originated from the consideration of ways to reduce customers' clothing expenditure burdens in an era of high inflation. To address this, E-Land Retail leveraged its 43 years of experience and network in the fashion sector to reduce product prices to about one-third compared to competitors.

The reason prices could be lowered was due to directly discovering fabric factories that produce in large quantities and purchasing fabric at less than half the price, thereby reducing costs. E-Land Retail's global fabric sourcing experts found companies producing fabric in large quantities in Korea, as well as Shanghai and Guangzhou in China, Vietnam, and Bangladesh, which supply fabric to famous overseas brands. After purchasing the fabric, E-Land produces products at domestic and overseas factories it has managed so far.

Since the first opening of the pilot stores, NC Basic sold a total of 30,000 pieces in less than a month and recorded a complete sell-out of the first order quantity. It was found that sales per square meter were more than 10 times higher than general stores. This is evaluated as a result of attracting attention with products targeting customers who want cost-effectiveness, even in a situation where the fashion industry is struggling due to recent price increases.

NC Basic's representative products are the 'Basic 10 items' essential for the wardrobe, such as shirts, jeans, and sweaters. As of November, the cumulative sales volume of sweaters and brushed jeans, the main products for the fall and winter seasons priced between 10,000 and 20,000 KRW, are 15,000 sweaters and 10,000 brushed jeans. NC Basic stated, "We will expand into the online sector and launch children's clothing to continuously reduce customers' clothing expenditure burdens."

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