F&Republic Reports 8.5 Billion KRW in Singles' Day Sales: "Local Strategy Worked"

[Asia Economy Reporter Hyunseok Yoo] F&Republic announced on the 12th that it recorded approximately 8.5 billion KRW in sales during the previous day's Guanggun Festival. This was due to strong sales of the fashion brand 'Nerdy' and Jayjun's mask packs.

Nerdy achieved sales of 2.1 billion KRW, growing about 115% compared to the previous year, based on strong sales of its main products, padding and tracksuits. This result reflects the sales impact of its ongoing brand awareness improvement strategy. Since opening Nerdy's domestic store on China's largest e-commerce platform Tmall in June this year, F&Republic has been promoting the brand mainly in the Chinese online market by conducting live broadcasts with Wanghong (王紅, influencers) locally to increase brand awareness in China.

Jayjun also achieved sales of approximately 6.5 billion KRW, centered on mask packs. The steady sellers 'Black Water Glow Mask Pack' and 'Intensive Shining Mask Pack' sold a total of 4.1 million units, marking a sales volume increase of over 20% compared to the previous year.

An F&Republic official stated, “Considering that contactless consumption such as online shopping and live broadcasts has become the trend in China due to the spread of COVID-19, we will strengthen online distribution channels and actively reflect local trends.” He added, “We will increase market share in China focusing on Nerdy, a representative K-street fashion brand, and Jayjun mask packs, a leading K-beauty product.”

He continued, “The company’s management is pursuing a growth strategy targeting the global market including China through the launch of new products that meet changing consumer trends as well as existing products.”