Improving Operational Efficiency through Management Innovation
Successful Expansion into Overseas Markets and New Businesses
Achieving Profit Turnaround for Parent Group and Affiliates
Fashion Group Hyungji announced on the 20th that CEO Choi Junho received the Grand Prize in the Domestic Fashion category at the '30th Samudang Textile Fashion Promotion Awards' ceremony held on the 19th at the Textile Center in Gangnam-gu, Seoul.
Choi Jun-ho, CEO of Fashion Group Hyungji, is holding the award plaque and posing for a commemorative photo after receiving the Grand Prize in the Domestic Fashion category at the 30th Samudang Textile Fashion Promotion Awards. [Photo by Fashion Group Hyungji]
The Samudang Textile Fashion Promotion Awards are given annually to individuals who have made significant contributions to the development of the domestic textile fashion industry, supported by the Ministry of Trade, Industry and Energy, the Ministry of SMEs and Startups, and related organizations including the Korea Federation of Textile Industries. It is regarded as the most prestigious award in the textile fashion industry.
CEO Choi is the eldest son of founder Chairman Choi Byung-oh. He joined Fashion Group Hyungji in 2011 as a purchasing team employee. Since then, he has served as head of the Hyungji Elite Special Business Division, head of the Purchasing and Production Division at Fashion Group Hyungji, and from 2021, he has held the positions of CEO of Castelbajac and President of Hyungji Elite. He leads the group and its affiliates, which operate over 20 brands.
As a young CEO in his 30s, he has been highly evaluated for his innovative approach, quickly responding to the times by strengthening digital capabilities and emphasizing on-site management, which the company believes led to this award.
He is discovering new growth engines as new sources of revenue and laying the foundation for continuous growth alongside improved performance. In fact, through digital management innovation using artificial intelligence (AI), the company predicts trends to introduce competitive products to the market, and by utilizing big data, it pursues inventory management and franchise operation efficiency, achieving a turnaround to profitability for the group and its affiliates.
Fashion Group Hyungji’s operating profit last year was 12.2 billion KRW, an increase of 50.4 billion KRW compared to the previous year. Castelbajac achieved an operating profit of 840 million KRW in the second quarter of this year through successful structural improvement, marking a 147.6% growth compared to the same period last year. Hyungji Elite recorded sales of 92.9 billion KRW on an individual basis, a 73% increase from the previous period.
CEO Choi stated, "We have pursued management innovation and operational efficiency to contribute to revitalizing the domestic market while coexisting with the company, employees, franchisees, and partners," and added, "We will continue to lead sustainable growth by discovering new businesses that will drive the future of the group."
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