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South Korea is having a moment in the spotlight. This is both good and bad for local fashion brands.
While the country has long held Asia’s trend-setting status, thanks to an endless fascination with K-pop stars Blackpink and BTS and general Korean pop culture, high local and tourist demand and government support for foreign operators, the years last appeared. as a particularly reliable country in APAC, while neighbors such as China continue to be affected by Covid lockdowns and store closures. LVMH-owned Dior, Kering’s Gucci and French designer brand Ami have targeted South Korea, hosting fashion shows, store openings and parties.
This global hunger for Korean culture raises the country’s profile on the world stage. But for emerging local fashion brands, this means stiff competition at home, where support for local talent is already weak.
Creativity and commercialism have long been at odds in South Korea’s culturally homogeneous market, says Seoul-based fashion designer Dongjoon Lim. It is also dominated by the chaebolsor Korean conglomerates such as Lotte, Hyundai and Shinsegae (which brought Acne Studios, Proenza Schouler and Loewe to the country in 2013, a year after launching Celine and Emilio Pucci), due to their strong financial prowess and large distribution networks.
Unlike cities such as London and Copenhagen, where new brands vie for a place on the official fashion week schedule, many Korean designers avoid Seoul Fashion Week due to low international attendance and viewership. Shoppers are also uninterested, with many local boutiques often preferring international fashion brands over homegrown labels, believing they are “better” and still cost the same. This environment has made it difficult for Korean creators to innovate, Lim believes. “Most Korean fashion customers love Japanese or Western brands. They don’t buy domestic labels.”
As a result, many Korean designers play it safe, focusing on affordable everyday basics, says Lim. “They don’t make experimental pieces or try a new design because no one will buy it.”
Now, a group of up-and-coming Korean designers are bucking the trend with bold designs and a global growth strategy that’s capturing the attention of fashionable shoppers at home.
Social media launch
Lim’s conceptual menswear brand is gaining traction abroad and domestically. In 2018, he and Sookyo Jeong co-founded Post Archive Faction (PAF), which uses technical, multi-purpose fabrics to create smart, structured silhouettes. Since 2020, PAF has presented its collections at an exhibition in Paris, directly to buyers. In 2021, the brand was shortlisted for the LVMH Prize. Today, it counts over 40 global shareholders, including Ssense, H Lorenzo and Dover Street Market. PAF, which has been self-funded to date, is profitable, with $2 million in revenue in 2021. The brand will close around $4-5 million by the end of 2022, a 200 percent increase in sales, Lim says.
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