High demand for outdoor fashion in Korea
Demand for outdoor fashion apparel in Korea is at a high point, the Korea Joongang Daily has reported. The newspaper predicts that the market exceeded $2.61 billion in revenue during 2010, which represents growth of 30% from 2009. Compared with 2006, the market has grown three-fold, it says.
“The market for [outdoor apparel] is seeing a tremendous boom, with brands increasing the manufacturing of down jumpers by 80 to 120%,” said Kim Young-sik, CEO of I-Reh, an outdoor apparel brand based in Korea.
“There are many companies lamenting that they can’t meet the explosive demand for want of inventory.”
The North Face’s Quantum Nuptse down jumper has sold out for several years running. In 2008, the item sold out by November. Last year, supply dried up in October, and this year its inventory of 2,010 jackets sold out by mid-September, just a few weeks after they hit store shelves.
“Even though we doubled the styles of down jumpers on offer and increased inventory by 70%, popular items were mostly sold out by mid-November,” said Jang Hee-soo, a representative of North Face in Korea.
Most outdoor fashion brands are recording 2010 as their best year ever for sales in Korea.
The growth of the outdoor apparel market is due to a broadening customer base. Brands have evolved from simply clothes for mountain hikers to include functional apparel for everyday wear. The industry has drawn students and women in particular to its brands.
The North Face’s Nuptse jacket is so popular among male students that it is referred to as a “winter uniform” by many.
With such lucrative products, more outdoor fashion firms are preparing to jump into the market.
Codes Combine’s brand Codes Combine Hiker, Cheil Industries’ La Sportiva and Parkland’s brand PL Sports are all preparing for 2011 launches.
