F&F Achieves Record Performance... MLB and Discovery Drive Sales in Chinese Market

F&F Last Year Sales 1.8091 Trillion KRW
Operating Profit 522.4 Billion KRW...61.9% Increase YoY
Growth in MLB and Discovery in Chinese Market Impact

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

Fashion company F&F recorded its highest-ever performance last year, driven by the rapid growth of major brands such as MLB and Discovery Expedition in the Chinese market.

According to the Financial Supervisory Service's electronic disclosure system on the 2nd, F&F's consolidated operating profit last year was 522.4 billion KRW, a 61.9% increase compared to the previous year. During the same period, sales rose 66.1% to 1.8091 trillion KRW, and net profit increased 66.6% to 386.5 billion KRW.

F&F's strong sales performance last year was propelled by the popularity of major brands like MLB and Discovery Expedition both domestically and internationally. In particular, despite COVID-19 lockdowns in the Chinese market, MLB's popularity showed steady growth both online and offline. The aggressive business expansion strategy, such as rapidly increasing store openings in key metropolitan cities with high consumer spending and fast fashion trend shifts like Beijing and Shanghai, proved effective.

F&F also attributes its strong performance to its proactive DT (Digital Transformation) strategy that pioneered the global market. F&F is digitizing 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. The F&F Group includes F&F, which operates MLB, Discovery Expedition, Duvetica, Sergio Tacchini, Stretch Angels, Supra, and F&CO, which manages the beauty brand Banila Co.

An F&F representative said, "Creating a digital fashion system through the digitalization of communication from consumers to production factories is analyzed to have led to global market expansion and highly efficient management. This trend is expected to continue this year with the recovery of the retail market in China, and considering the wholesale (distributor) structure, it is anticipated that local distributors will begin inventory clearance in the first quarter, followed by full-scale growth from the second quarter."