Cumulative sales reach 107.4 billion KRW in Q3, marking an all-time high
Sports merchandising sales soar by 79 percent
Hyungji Elite announced that it surpassed 100 billion KRW in cumulative sales for the third quarter by strengthening its collaboration in sports merchandising, achieving its highest performance ever.
According to the Financial Supervisory Service's electronic disclosure system on May 15, Hyungji Elite recorded individual sales of 34.6 billion KRW for the 24th fiscal year’s third quarter (January to March 2025), and achieved cumulative sales of 107.4 billion KRW for the third quarter (July 2024 to March 2025). This represents a 12% increase compared to the previous fiscal year’s sales of 95.7 billion KRW.
While the core student uniform sector provided stable profits, the sharp growth in the sports merchandising business drove the expansion in sales.
Sales from sports merchandising increased by 79% year-on-year, rising from 11.1 billion KRW to 19.9 billion KRW. However, as the company made proactive investments in expanding new businesses, cumulative operating profit decreased by 87% to 230 million KRW compared to the previous year. The company explained that, with the addition of new teams such as FC Seoul and the start of the professional baseball and football seasons in the fourth quarter, both sales and operating profit are expected to increase.
Collaboration with online fashion platforms and restructuring of its own online mall also contributed to the increase in sales. In October last year, Hyungji Elite launched the fashion brand ‘Barca’ by utilizing the official license of the prestigious football club ‘FC Barcelona’. The brand is sold through the limited-edition platform ‘Cream’ and has received a positive response.
The workwear segment is also expanding its sales channels by opening its own online mall and engaging in marketing activities. Recently, there has been a growing awareness of disaster prevention and safety across industries, and the expansion of the Serious Accidents Punishment Act has led to increased demand for workwear. In addition, while workwear was previously centered on workers in their 40s and 50s, there has been an influx of younger workers in their 20s and 30s, resulting in a rising preference for workwear looks among younger generations.
Going forward, Hyungji Elite plans to lay the foundation for growth by expanding into the overseas premium school uniform market. In China, the company aims to broaden its presence in the premium school uniform sector and secure price competitiveness to increase the development of general school uniform products. It will also continue to pursue entry into the premium school uniform market in ASEAN countries.
A Hyungji Elite official stated, “We expect future performance to be bright, thanks to the improved performance and high visibility of our partner teams. While maintaining stable profitability through strong competitiveness in businesses such as student uniforms, we will continue to invest boldly to expand collaborations with various teams in the sports sector and strive for sustained growth.”
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