F&F Advances Globalization of K-Fashion... MLB's Overseas Sales Expected to Reach 1.2 Trillion Won This Year

MLB Expected to Surpass 1 Trillion Won in Overseas Sales This Year
Rapid Growth in Chinese Market... Continuous Store Openings
Business Expansion to 7 Asian Countries
Significantly Enhancing the Globalization Potential of K-Fashion

MLB 700th store in Shanghai, China. Photo by F&F

[Asia Economy Reporter Song Seung-yoon] MLB, a premium lifestyle brand operated by F&F, is performing well in overseas markets such as China, and is expected to surpass 1 trillion KRW in overseas sales for the first time as a single brand this year.

According to industry sources on the 9th, MLB's consumer sales in overseas markets this year are expected to exceed 1.2 trillion KRW. This is the first time for a domestic fashion company to exceed 1 trillion KRW in overseas sales with a single brand. The F&F Group includes F&F, which operates MLB, Discovery Expedition, Duvetica, Sergio Tacchini, Stretch Angels, Supra, and F&CO, which operates the beauty brand Banila Co.

Since entering the Chinese market in 2020, MLB has been recording continuous high growth. Especially, rapid store openings are taking place mainly in major hub cities such as Beijing and Shanghai, where consumer spending is high and fashion trends are leading. The 700th store opened in Shanghai last September was originally launched as the first store in China, but thanks to local popularity, it was expanded and reopened at five times the size (a total of 650 pyeong) in three years.

Growth is also continuing in Asian markets other than China. MLB entered Hong Kong, Macau, Taiwan, and Thailand in 2018, and currently operates in seven Asian countries including Vietnam, Malaysia, and Singapore. Next year, it plans to expand its base to the Philippines, Cambodia, and Indonesia. In Vietnam and Thailand, the growth rate in the third quarter of this year is expected to exceed 200% compared to the previous year based on consumer sales.

MLB Padding Collection aespa Model Shots.
Photo by F&F

This achievement is encouraging in the fashion industry, where cases of domestic brands entering overseas markets are rare. It also means that the globalization potential of 'K-Fashion' has been further enhanced. In particular, there is an analysis that the strategy of recreating global IP as a fashion brand and combining Western representative sports with Eastern fashion sensibility has hit the mark. F&F also evaluates that pioneering the global market through a proactive DT (Digital Transformation) strategy was a key factor. F&F is digitally transforming the entire fashion business process, including product planning, production, logistics, design, and marketing. All data, from consumer communication to factory communication, is shared like a pipeline.

F&F plans to accelerate its global expansion in the future. It has participated as a strategic investor (SI) in a fund to acquire TaylorMade, one of the world's top three golf equipment companies, and has acquired the U.S. headquarters of the global tennis brand Sergio Tacchini to officially enter the tennis apparel market.

An F&F official said, "F&F is creating a new fashion system through digital technology," adding, "We will accelerate the DT strategy that innovates the fashion system to pioneer the global market and lead the globalization of K-Fashion."