[Asia Economy Reporter Hyungsoo Park] FS Research stated on the 23rd that the comfortable shoe brand 'Le Mouton' is rapidly growing and predicted that Ujoo Tech will continue to grow steadily.
Ujoo Tech was established in 2015. In December 2016, it registered a patent for shoes using wool fiber and in September 2017, it introduced comfortable shoes called Le Mouton. It started selling on Amazon from September 2019. From this year, it has been stocked in Lotte Department Store. As of last year, Le Mouton shoes accounted for 35% of sales, and the e-commerce business accounted for 65%.
Hwang Se-hwan, a researcher at FS Research, said, "We operate the top 1-2 travel goods shopping mall sites based on Ranking.com called Travel Gear," and introduced, "We sell travel carriers and various products."
He added, "Le Mouton manufactures the upper part of the shoe, the vamp, with natural wool, making it comfortable for people with high insteps or wide feet to wear," and "It is lighter than an iPhone and has elasticity that can stretch up to 30% beyond its original shape."
Furthermore, he emphasized, "We use functional and eco-friendly materials," and "We think about good consumption and the environment by making outsoles with biodegradable materials, applying recycled poly shoelaces, and using eco-friendly recycled paper."
Researcher Hwang explained, "Ujoo Tech adopts a strategy different from competitors," and emphasized, "Since everyone's foot shape is different, using customized insoles for each individual is necessary to avoid side effects."
He continued, "Overcoming offline limitations, we provide customized insoles with just a few photos through big data," and expected, "With accumulated data, it will demonstrate strong performance as a foot care platform in e-commerce."
It is expected to achieve sales of 13 billion KRW and operating profit of 3.5 billion KRW this year. This represents an increase of 76.6% and 519.5%, respectively, compared to last year.
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