[Asia Economy Reporter Yujin Cho] 'Online-only brands' of fashion companies are gaining attention. This is due to the increased demand for products featuring timeless designs and high quality amid reduced consumption caused by the impact of the novel coronavirus disease (COVID-19).
According to the fashion industry on the 29th, LF's women's contemporary brand At Corner's 'Saki Line' recently entered its 6th reorder (reproduction). The Saki Line is a line launched through collaboration with artist Saki after LF converted At Corner into an online-only brand in February this year.
The products feature basic T-shirts such as short sleeves and crewneck hoodies, adorned with typography using unique materials like paper, fabric, and ceramics, differentiated in design targeting the main consumer group of people in their 20s and 30s. An LF official said, "Reflecting the consumption patterns of the millennial generation, the line is available on LF Mall, our own online store, as well as fashion select shops like Musinsa and W Concept, receiving particularly positive responses among young consumers."
Sejung's online-only brand Wellmadecom's 'Welcome T-shirt' exceeded its target performance by 5800%. In February, about 900 people participated in a crowdfunding project conducted with Wadiz, setting records for the highest number of participants and sales among T-shirt projects on the Wadiz platform. The company explained that the product's popularity is due to the deodorant tape with odor control function built into the armpit area of the T-shirt and the elimination of seams, which maintains the shape even after frequent washing.
Kolon Industries FnC division recently launched the online-only men's clothing brand '24/7,' increasing the spring/summer season volume by 200% compared to the same season last year, and the lamb leather brand 'Archive ABKC' exceeded its sales target by about 180% cumulatively by the third week of May since its launch.
Online-only brands improve corporate profitability by streamlining the production process and reducing distribution intermediate costs such as store rent and labor costs. Especially as contactless consumption, avoiding offline store visits due to COVID-19, has expanded, the sales performance of online-only brands has become notably prominent.
A fashion industry insider analyzed, "The COVID-19 pandemic accelerated the contactless consumption market, highlighting the need to secure online-only brands. Online-only products that increase price competitiveness while differentiating product quality, targeting young consumers who prefer practical consumption, are gaining great popularity."
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