[Click eStock] "Gamseong Copper, Growth Expected in Second Half"

Yuanta Securities analyzed on the 12th that continuous growth is expected for Gamseong Corporation in the second half of the year. No investment opinion or target price was provided.

Gamseong Corporation has been operating the Snow Peak apparel business since signing a license agreement with the global camping brand Snow Peak in 2019.

Yuanta Securities identified three key factors for the rapid growth of Snow Peak apparel. Researcher Kwon Myung-jun of Yuanta Securities stated, "The proportion of new product sales is high, and the design capability is considered excellent as the products are made to match trends." He added, "Since changing the model to actor Hyun Bin in 2023, not only clothing but also accessory sales have increased, demonstrating strong marketing capabilities."

He continued, "The proportion of online sales is increasing, and the number of online distribution channels is also growing," explaining, "Brand awareness is also on the rise."

Researcher Kwon predicted that Gamseong Corporation will continue to grow in the second half of the year. He said, "TV advertisements are planned for the second half," adding, "With brand awareness and over 170 stores, mass marketing effects through TV advertising are expected."

He analyzed, "The number of stores is continuously increasing, and since the offline sales proportion is high, the increase in the number of stores is linked to sales growth." He also noted, "The expansion of store size and relocation to main zones are positive factors for elevating the status within stores."

Additionally, he explained, "Entry into China and Hong Kong is expected to begin in the second half," and "The company plans to expand its product lineup of lightweight padding with competitiveness in F/W as well as heavy outerwear."