[Photo provided by LF Corp.]
Hazzys, casual fashion label of South Korea’s LF Corp., is heading to Mongolia in hands with the country’s largest online store operator Shoppy, accelerating its inroads into the global fashion market.
LF hopes to win the heart of Mongolian young consumers, especially those younger than 36 years old who make up 64 percent of the Central Asian country’s 3.3 million population. It has partnered up with Shoppy, the largest e-commerce platform in Mongolia, to make a fast foray in the country.
Hazzys is casual fashion brand of LF. The brand made its first global inroads in China in 2007. Since then, it has expanded out to other Asian markets including Taiwan, Thailand, Vietnam and Singapore. In China, LF operates 470 some Hazzys stores, which have delivered new record high sales every year.
In 2015, LF launched Hazzys Kids in China through partnership with a local Chinese children’s clothing company.
Hazzys recently generated 400 billion won ($336 million) in sales in China alone, and the brand is expected to earn 1 trillion won in overseas sales by 2023, said an industry source.
LF has been actively expanding in other Asian markets. It entered Taiwan in 2013 and now operates 30 some outlets across the country. In Vietnam, it opened its first store in November 2017.
It recently opened pop-up stores in major European cities, including Paris and London, for bigger global presence.
By Lee Young-wook and Cho Jeehyun
[ⓒ Pulse by Maeil Business Newspaper & mk.co.kr, All rights reserved]