Last Year, 5 Trillion Sold... Fashion Industry Going 'All In' on Golf

From French Contemporary Brands to Golf Equipment Brands
All-Out Effort to Capture 1.15 Million MZ Generation Golf Beginners

[Asia Economy Reporter Lim Hye-seon] The fashion industry is clashing fiercely in the golf apparel market. Not only importing famous overseas brands, but also entering the apparel market by leveraging golf equipment brands familiar to golfers, they are engaging in intense competition.

Launching New Brands Targeting 2030 Generation

According to the fashion industry and Shinhan Investment Corp. on the 7th, the number of domestic golf apparel brands has been counted at around 150. Among them, about 50 brands were launched this year. It was also found that about 10 companies have confirmed launching new brands next year. Most of these are high-end premium brands targeting young people in their 20s and 30s. A fashion industry official said, "Securing brands with high recognition overseas is essential to quickly settle in the market," adding, "Cases of entering the apparel market through golf equipment company brands are steadily increasing."

IDLOOK is launching the French contemporary brand A.P.C golf wear. After completing consultations with the French headquarters last year, they formed a golf apparel team earlier this year. K2 changed the corporate name of Wide Angle to ‘FCG Korea’ and acquired domestic trademark rights for apparel and equipment of the luxury putter brand ‘Piretti.’ Chris F&C, which started distributing the American golf bag specialist brand ‘Vessel,’ is also planning an apparel business. Handsome will also carry out a golf apparel business with contemporary overseas brands.

◇ Golf Equipment Companies Also Expanding Apparel Business = Existing golf equipment brands such as Mizuno, Honma, and Lambda are also producing apparel one after another. Callaway and TaylorMade, which once withdrew from the golf apparel market, will challenge the apparel business again in the second half of the year. Women’s clothing brands with loyal customers such as Time, Kooho, SJYP, and Lucky Chouette are releasing golf collections.

Retailers are also directly entering the golf apparel market. Shinsegae Department Store’s select shop Case Study opened a project brand ‘Golf Club.’ Collaborating with various brands, they release limited edition products, among which 40 out of 120 items launched this year sold out within three days.

As the market grows, rental companies are also gaining popularity. Used golf apparel transactions are active on platforms like Danggeun Market and Bungaejangter. A fashion industry official explained, "Young golfers consider SNS certification photos essential every time they go to the field," adding, "Since they cannot wear the same clothes in photos, they rent or buy clothes and then sell them in the secondhand market after wearing them once, allowing them to enjoy a variety of apparel."

Korea Ranks No.1 in Golf Apparel Market

According to the Korea Leisure Industry Research Institute, the golf population last year was about 5.15 million, an increase of more than 33% compared to 2017. Among the golf population who visited golf courses at least once last year, 936,000 were in their 20s and 30s. As the golf population increased, the golf apparel market size also grew by 11% from the previous year, reaching 5.125 trillion KRW. The institute forecasts that the golf population in their 20s and 30s will increase by about 210,000 this year to reach approximately 1.15 million, with the market size expected to exceed 5.685 trillion KRW this year and 6.335 trillion KRW next year. In fact, golf apparel sales at department stores from January to August this year surged more than 50% compared to the same period last year.

The reason domestic fashion companies are enthusiastic about the ‘golf market’ is due to its high growth potential. Korea is the number one country in the world for golf apparel expenditure. The golf equipment market is seven times larger in the U.S. than in Korea. Since 2019, Korea has also surpassed Japan.

Some express concerns that the golf apparel market might rapidly decline after a period of rapid growth similar to the outdoor market 7-8 years ago. The outdoor market grew to 7.16 trillion KRW in 2014, coining the term ‘backbreaker’ due to its heavy spending. However, the industry collapsed from 2015 and shrank to around 2 trillion KRW by 2019. It is pointed out that if overseas travel resumes, the golf industry size may shrink, causing a sharp drop in demand for golf apparel.

Despite concerns such as the resumption of overseas travel, the fashion industry expects the golf apparel market to remain steady. A fashion industry official said, "Although the golf industry size is likely to shrink when overseas travel resumes, the number of overseas golf travelers is also increasing, so the golf apparel market is not expected to suffer significant damage."