In the fashion and distribution industry, the time when domestic handbag brands such as ‘MCM’, ‘Louis Quatorz’ and ‘Metrocity’ ceased to exist is around 2016. As luxury handbags such as Chanel and Louis Vuitton became popular, it became difficult to find them in department stores around this time.
However, the mid-to-low-priced domestic designer brands that have recently gained word of mouth through social media are attracting attention with explosive popularity among those in their 20s and 30s. People in their 20s and 30s prefer low-cost and striking domestic handbags when they go to work or go out lightly.
According to the Financial Supervisory Service on the 12th, sales of Seongju D&D, which produce MCM bags, peaked at 579.1 billion won in 2016, and then turned to a decline, reaching 334.7 billion won last year. Taejin International, which operates Louis Quatorz, and MT Collection, which owns Metro City, have been running in the red since 2020, when the COVID-19 crisis broke out.
It is a new designer brand that fills the void of those who had high reputation in the past. Designer Seok Jeong-hye’s ‘Bunk’ (pictured) is a representative example. Bunk’s sales are increasing through word of mouth among people in their 20s and 30s. Bunc’s sales last year were 16.2 billion won, up 69.0% from 2020.
Handbags from fashion companies such as Kolon FnC and Handsome, which are popular in 2030, are showing a similar trend. Kolon FnC’s ‘Coron’ sales in January-August increased by 120% compared to the same period of the previous year.
Many of these cases were successful as they gained the image of ‘hip’ through SNS, etc. Designer Seok Jeong-hye, who created BUNK, is also an influencer with 600,000 followers.
He is maximizing the effect of by uploading his handbags on social media. Handsome’s ‘Deckke’ is selling products under contract with famous Japanese select shops such as Iena and Plage as word-of-mouth spread among Japanese consumers. They set the price between 200,000 and 300,000 won, reducing the burden while still retaining their unique design.
By Bae Jeong-cheol, staff reporter [email protected]