While western fashion capitals are known to witness the biggest industry events - Fashion weeks and exclusive events by luxury brands, there is a revolution slowly brewing in the East. Saturation in the west has made many companies shift focus, and look for newer markets. South Korea is now considered one of the most important budding fashion capitals in the east, with Seoul Fashion Week becoming increasingly popular.
But, as one must expect, the fashion on this side of the globe certainly speaks another language. South Korea has its own trends, retail giants and influencers. There is definitely an affinity towards western luxury brands, but customers in the country have their own approach towards them. And hence, the strategy to reach these customers must be entirely adapted to their lifestyles. South Koreans use various social media apps, the popular western ones, as well as local apps.
South Korea has a thriving fashion market of its own, and several local brands make up a sizeable share in the total fashion sales. Besides this, Seoul has a strong street style influence, especially amongst the younger generations. Fashion forward style sensibilities, and a high demand for luxury and high street fashion make South Korea an irresistible market for brands. But, since the market functions in a completely manner, many brands use the help of local companies to enter it.
South Koreans are also immensely influenced by local celebrities and pop stars. It is not surprising that many western brands are using these influencers as brand ambassadors. Their unique style can swing popular opinion and lead to the biggest trends in the country.
This report uncovers the fashion market in South Korea, how it functions currently and the factors influencing the demand in the country.
- Fashion Industry in South Korea
Insights on the Fashion Industry in South Korea
- International fashion brands in South Korea
- Dongdaemun market
- Fashion business expansion for local companies
- E-commerce in South Korea
- Influencer marketing in South Korea
- Key Takeaways