25 billion in sales in 2008, a 40-fold increase
E-Land “Actively reflects domestic customer tastes”
New Balance, a global sports brand developed by E-Land World, announced on the 24th that its annual domestic sales this year exceeded 1 trillion won. New Balance is a brand that started in the United States in 1906. E-Land World secured exclusive business rights in Korea from New Balance in 2008.
In 2008, New Balance’s annual sales were KRW 25 billion, but rose sharply to KRW 470 billion in 2019 and over KRW 500 billion in 2020, entering the ‘1 trillion club’ (annual sales of KRW 1 trillion) 16 years after entering the domestic market. entered the market (more than 100 brands).
E-Land cited the secret to its growth as planning and introducing clothing that reflects the tastes of domestic customers based on New Balance’s sports heritage. The ‘New Balance Women’s’ product line, which began in 2016 with figure skater Yuna Kim as its promotional ambassador, is credited with contributing to the expansion of the female customer base. The ‘Yuna Down’ product released that year sold more than 100,000 copies. Since then, E-Land has introduced improved winter down jackets every year based on analysis of thickness, length, fit, and color preferred by female customers.
An official from E-Land New Balance said, “New Balance has been reborn as a ‘trillion dollar brand’ this year by planning products and conducting campaigns to help customers have a healthy experience.” He added, “We will continue to introduce products and content that domestic customers can relate to.” “It is,” he said.
Reporter Lee Min-ah [email protected]
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