Nostalgic 'K-Swiss' Returns to Korean Market After 3 Years in Partnership with Black Yak

Black Yak Group Establishes JV with KP Global
"K-Swiss Sets 80 Billion KRW Sales Target Within 5 Years"

The sports brand ‘K-Swiss’ is restarting its business in the domestic market. Based in the United States, K-Swiss operated in Korea until 2022 but decided to withdraw due to poor sales performance.

On the 20th, according to BYN Black Yak Group, they will launch the K-Swiss brand domestically in partnership with KP Global Brand. To this end, BYN Black Yak Group held a signing ceremony on the 10th to establish a joint venture (JV) called 'K-Swiss Korea' with KP Global. The ceremony was attended by Kang Tae-seon, chairman of BYN Black Yak Group, Kang Jun-seok, president, and Ding Suibo, chairman of KP Global.

Photo of the BYN Black Yak Group-KP Global Brand agreement ceremony. (From left) Kang Joon-seok, President of BYN Black Yak Group; Kang Tae-sun, Chairman of BYN Black Yak Group; Ding Shuipo, Chairman of KP Global Brand; Yang Hajun, Chairman of KP Global Brand. Provided by Black Yak Group.

KP Global is the company that holds the global IP of K-Swiss. It is 100% owned by Ding Suibo, the founder of Xtep International Holdings, which operates the Chinese sports brand Xtep.

K-Swiss is a sports brand that was previously operated domestically by Hwasung and E-Land Group. Its main products are sneakers centered on tennis shoes. At one point, E-Land World secured 100% of the shares of the K-Swiss headquarters in 2013 and expanded K-Swiss business in North America, Europe, and Asia. However, in 2019, the brand operation rights were transferred to Xtep. At that time, K-Swiss struggled to establish a foothold, overshadowed by comprehensive sports brands such as Nike, New Balance, and Adidas. In 2022, it disappeared from the domestic market as well.

BYN Black Yak Group aims to expand its business area into the sportswear market starting with the launch of K-Swiss. To strengthen brand awareness of K-Swiss, they will introduce shoes, apparel, and accessories (hats, bags, socks). Regarding shoes, they plan to release specialized court shoes for tennis, pickleball, as well as sneakers and running shoes suitable for everyday wear.

Chairman Kang Tae-seon said, “Based on the infrastructure and global brand success experience of both companies, we will support K-Swiss to firmly establish its brand presence again in Korea,” adding, “Starting with the establishment of this joint venture, we will build a cooperative ecosystem beyond Korea and China to overseas markets, creating strong partnerships and synergies.”

K-Swiss Korea will be led by CEO Park Jong-hyun, who previously oversaw global partner business at KP Global. CEO Park has experience leading Descente’s global retail. Park Jong-hyun also stated, “We are targeting sales of 80 billion KRW within five years.”

To commemorate the launch of K-Swiss in the domestic market, a pop-up store will be held on the 21st at 'Urb Studio' located in Seongsu-dong, Seoul. The pop-up store will showcase a space centered around K-Swiss’s representative product, the 'CLASSIC VN.' The heritage zone introducing the brand’s history will reveal past collaboration products and history, including Batman and Harry Potter. In the future, they plan to release collaboration shoes with McLaren, tennis shoes, running shoes, and more.

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