On September 15, Ohaim & Company announced that it will acquire part of Joyworks' sports brand "HOKA" retail business and change its company name to Joyworks & Co.
According to the company, Ohaim & Company has agreed to acquire the entire offline segment of Joyworks' "HOKA" retail business for 25 billion won. The final acquisition will take place on September 30, following approval of the business rights transfer and company name change at an extraordinary general shareholders' meeting scheduled for September 29.
Joyworks, the official importer of HOKA in Korea, has been working to expand its offline stores, previously concentrated in the Seoul metropolitan area, to a nationwide scale in search of increased sales. Ohaim & Company’s acquisition is viewed as a strategic move to leverage its existing retail distribution network and establish a full-scale nationwide distribution network.
Through this transaction, Ohaim & Company plans to integrate the HOKA offline business into its existing retail division without establishing a separate corporation.
HOKA, the global brand founded by French running experts Nicolas Mermoud and Jean-Luc Diard, has pursued innovation under its core philosophy of "Joyful Performance," aiming to make running a freer and more enjoyable experience.
With its flagship maximal cushioning model BONDI, HOKA quickly established itself in the daily running shoe market. Recently, it has strengthened its competitiveness in the performance running and outdoor markets with products such as the Rocket X3 performance racing shoes and trail performance shoes proven in global trail running events like UTMB. As a result, further growth is anticipated in the high-end markets of running, trail, and outdoor segments.
Additionally, HOKA is developing a brand strategy centered on "customer experience" that goes beyond simple product sales. Community-based activities are actively underway, such as the HOKA Run Club, in which real runners participate, and classes that support achieving personal bests (PB), building deep trust between the brand and consumers.
In particular, future offline stores are expected to evolve beyond simple retail spaces into running community hubs that connect online and offline, serving as venues for runners to connect and grow together.
The brand influence of HOKA is also evident in its performance. Last year, Joyworks' sales increased by 89% compared to the previous year, while operating profit surged by 49%.
A representative from Ohaim & Company stated, "With this business acquisition, we are taking our first step into the new field of sports distribution," adding, "We will accelerate our brand business to achieve expansion of our business areas and increased sales and profitability."
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