'HOKA' Is Just the Beginning... Joyworks & Co. Accelerates Brand Portfolio Expansion with 'Saucony' at the Forefront

On September 29, market expectations for the newly launched 'Joyworks & Co.' reached their peak. Public attention is undoubtedly focused on the explosive growth of 'HOKA.' However, industry analysts believe that the real strength of Joyworks & Co. will be demonstrated as it begins with the successful acquisition of HOKA and, moving forward, fully incorporates and restructures another key brand, 'Saucony,' thereby activating its 'multi-brand' strategy.

The first engine driving Joyworks & Co.'s growth is, without question, 'HOKA.' Last year, HOKA recorded sales of 30.6 billion KRW, and in just the first half of this year, it has already surpassed 18.8 billion KRW in sales, signaling explosive growth that is expected to far exceed last year's performance. With a strong fan base, HOKA will combine with Joyworks & Co.'s distribution network to begin a full-scale nationwide expansion starting next year.

However, Joyworks & Co.'s blueprint does not end there. The next in line is 'Saucony,' which recently fired the starting gun for its resurgence by successfully hosting a brand experience event. With a history of over 120 years, Saucony, currently operated by Joyworks, is a high-potential brand boasting both a performance line highly supported by professional runners and an Originals line with retro designs that are gaining attention in the fashion market. Joyworks & Co. is highly likely to redefine Saucony’s brand identity and initiate branding efforts aimed at its core customer base to drive further growth.

The core of Joyworks & Co.'s multi-brand strategy lies in 'mutual complementarity.' By targeting a diverse consumer base with brands offering different appeals-such as 'HOKA,' which enjoys widespread popularity thanks to its trendy designs, and 'Saucony,' which has secured a devoted following through its deep history and expertise-the company aims to build a stable growth structure that is not swayed by the trends of a single brand. This approach is expected to rapidly expand its influence within the sports brand market.

A company representative stated, "Alongside the successful expansion of the proven HOKA brand, we will maximize synergy by developing potential brands like Saucony step by step," adding, "We aim to go beyond being a simple distributor and grow into a 'specialized brand portfolio company' that nurtures brands."

In conclusion, while the market is enthusiastic about HOKA's 'current achievements,' Joyworks & Co. is laying the foundation for 'sustainable growth.' The company's growth ambitions are clear: to further accelerate the growth of 'HOKA' while pursuing additional diversification of other promising brands such as 'Saucony,' ultimately evolving into a leading brand portfolio company in Korea. As Joyworks & Co., newly launched on September 29, seeks to maximize its corporate value through a successful portfolio strategy, the industry is closely watching its next moves.