The Best MMBs Leading Mass Market with 12 Best Brands!
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The Best MMBs Leading Mass Market with 12 Best Brands!
As the polarization in the fashion market becomes more distinct, brands that are either increasingly luxurious or more cost-effective are driving the market. Analysts suggest that due to rising prices and a subdued consumer psyche, fashion brands are taking a direct hit to their sales, with consumers becoming sensitive to 'price.' With the increase in raw material costs, clothing prices have risen by 10-30% compared to the previous year, leading consumers to increasingly consider higher discount rates and reasonable price ranges relative to quality.
If we consider main distribution channels such as roadshops, outlets, and shopping malls in the mass market, what are the best brands? Based on sales data up to the first quarter of 2023, FashionBiz selected the best brands by category.
Targeting brands that have shown consistent sales growth in the past 2-3 years, the selection criteria included leading market trends, brand renewal in line with consumer lifestyles, and a focus on distribution through roadshops and outlets. After careful consideration, the best brands were chosen from a total of 12 categories.
The results reveal that in the women's clothing category, List (Young Contemporary), Bestibelli (Character), and Olivia Lauren (Adult) are leading in sales growth this year. List and Olivia Lauren, with sales powers of 1.3 trillion and 2 trillion won respectively, have firmly established themselves as leading brands in the market. Bestibelli, expanding its distribution network in roadshops while capturing the online market, is making a leap for a second successful phase.
In the men's clothing market, Ziozia (Contemporary) and Wellmade (Adult) are leading, with Ziozia showing high preference among the 2040 age group and Wellmade among the 3050 age group.
In the Casual and SPA sector, Top 10 is expanding its categories from adult clothing to children's clothing and athleisure, growing into a 920 billion won mega brand.
In golf wear, Louis Castel (Lifestyle) and JDX (Performance) lead the trend with a wide product range and cost-effectiveness.
Other notable brands in the mass market include The North Face, with expected sales of 1 trillion won this year, the traditional sports brand Prospecs with 42 years of history, the globally expanding children's clothing brand Moimoln, and the successful turnaround in profit, the fashion accessory brand Elcanto, actively adapting to the online market.
In the current era where value consumption is emphasized alongside economic downturns, the Mass Value Best Brands focus on reasonable prices, practicality, and brand trust to enhance their competitiveness in the market. Additionally, a check on the current status of the mass value market by category has been conducted to understand the market trends. [Editor's Note]