Hazzys, casual fashion label of South Korea’s LF Corp., is heading to Mongolia in arms with the nation’s largest on-line retailer operator Shopee, accelerating its inroads into the worldwide fashion market.
LF hopes to win the guts of Mongolian young consumers, particularly these youthful than 36 years outdated who make up 64 p.c of the Central Asian nation’s 3.3 million inhabitants. It has partnered up with Shoppe, a Singapore-based multinational e-commerce firm operating the most important on-line shopping center in Mongolia, to make a quick foray within the nation.
Hazzys is casual fashion brand of LF. The brand made its first international inroad in China in 2007. Since then, it has expanded out to different Asian markets together with Taiwan, Thailand, Vietnam and Singapore. In China, LF operates 470 some Hazzys shops, which have delivered new document excessive gross sales yearly.
In 2015, LF launched Hazzys Children in China by partnership with a neighborhood Chinese language youngsters’s clothes firm.
Hazzys just lately generated 400 billion gained ($336 million) in gross sales in China alone, and the brand is anticipated to earn 1 trillion gained in abroad gross sales by 2023, stated an business supply.
LF has been actively increasing in different Asian markets. It entered Taiwan in 2013 and now operates 30 some retailers throughout the nation. In Vietnam, it opened its first retailer in November 2017.
It just lately opened pop-up shops in main European cities, together with Paris and London, for larger international presence.
By Lee Young-wook and Cho Jeehyun
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