On August 19, Hyungji I&C (CEO Choi Hyewon), a fashion specialist company, announced that its e-commerce (online mall) sales in July grew by 119.5% compared to the same period last year.
Hyungji I&C launched its integrated proprietary online mall, "Hyzine.com," in May 2023. "Hyzine.com" is an integrated online mall that sells all of Hyungji I&C's brands, including the men's apparel brands "BON" and "YEZAC," as well as the women's apparel brand "Carries Note." Since January of this year, the vintage jeweler brand "Hightension" has also joined the platform, expanding it into a comprehensive online mall.
The company explained that "Hyzine.com," now celebrating its second anniversary, has achieved visible results, enhancing the company's image and continuing its growth trajectory. Notably, in the first half of this year, the online mall recorded sales of 1.3 billion KRW, representing approximately 60% growth year-on-year.
Generally, proprietary online malls have the advantage of reducing costs, as there are no open market or platform listing fees and commissions. They can also secure loyal customers by offering style suggestions tailored to customer preferences. According to Statistics Korea, the size of the online apparel transaction market in the Korean fashion industry in 2024 is 21.7 trillion KRW, accounting for 65% of the total fashion transaction volume.
Recently, "Hyzine.com" renewed its UX/UI design to enhance customer convenience. As a result, the platform drove significant online sales growth, supported by strong sales of major brands and an increase in loyal customers. In particular, by offering data-driven, personalized customer services and diversifying its product categories, the platform has simultaneously strengthened new customer acquisition and repurchase rates, demonstrating the potential of its online platform.
Hyungji I&C is also expanding new distribution channels and strengthening its strategy for Naver's "Brand Store" platform. The company plans to provide consumers with a highly reliable shopping experience by focusing on managing its official website and proprietary channels, as well as discovering platforms optimized for its brands and expanding its new customer base.
A Hyungji I&C representative stated, "The growth of Hyzine.com is significant not only for expanding online sales but also for strengthening the company's overall digital competitiveness," adding, "We will continue to drive distribution innovation centered on online platforms going forward."
© The Asia Business Daily(www.asiae.co.kr). All rights reserved.
