Nepa's Rebranding Strategy Works... Returns to Profitability After 3 Years

by Lee Seohee

Published 10 Apr.2023 15:02(KST)

Outdoor brand NEPA achieved a positive net profit turnaround on both individual and consolidated bases for the first time in three years since 2019.

Nepa logo
Photo by Nepa

According to NEPA on the 10th, the company's net profit last year was 500 million KRW, successfully turning to the black. Last year's individual sales grew by 6% compared to 2021, reaching 327.3 billion KRW. This represents a 17% growth compared to 2020 sales. Last year's EBITDA recorded 40.3 billion KRW, growing 75% and 26% compared to 2020 and 2021 respectively, and operating profit was 26.4 billion KRW, an increase of more than 50% compared to 2021.

Since last year, NEPA has focused on enhancing the expertise and functionality of outdoor products based on the 'Back to Basic' policy. Noting the increasing consumer demand for expertise, the product lineup was also reorganized. It was divided into the 'Mountain Division,' consisting of technical outdoor wear featuring functional materials, and the 'Outdoor Life' line for casual activities such as camping and trekking, responding to consumer needs.

NEPA plans to appoint singer Ahn Yujin as the advertising model for the upcoming spring and summer season and carry out various promotional activities.

A NEPA representative said, "We are currently applying comprehensive changes including brand direction and slogan, product materials, and sales channels," adding, "As an outdoor brand, we plan to convey the joys of nature in diverse ways, so we ask for your great interest and expectations."