Shinsegae Department Store launches multilingual wholesale platform for South Korean apparel brands

By Kim Joo-heon Posted : May 30, 2023, 14:03 Updated : May 30, 2023, 14:03

[Courtesy of Shinsegae Department Store]

SEOUL -- The department store division of South Korea's retail conglomerate Shinsegae Group has officially launched a wholesale platform for South Korean fashion brands. Shinsegae aims to incubate various talented designers through the multilingual platform called “Kfashion82” targeting the global K-fashion market.
 
According to data released by the Korea Federation of Textile Industries, South Korea's apparel item exports to Britain, France, Italy, and the United States in 2022 reached $345.6 million, up 50.3 percent from 2020. To attract K-fashion lovers, Shinsegae opened the beta service of Kfashion82 in March 2023. The platform available in English, Chinese, Korean, and Japanese has already secured more than 100 domestic brands.
 
Shinsegae Department Store said in a statement that Kfashion82 would be officially launched on May 31. The department store will work with logistics agencies with overseas distribution experience to provide fashion items worldwide.

"We will try hard to support competitive South Korean fashion firms to continue to grow," an unnamed Shinsegae Department Store official was quoted as saying. Depending on the sales performance and transaction volume, interest-free funds of up to 100 million won ($75,642) will be offered to domestic companies.

The platform has adopted escrow-based payment in which a domestic bank keeps money from buyers and sends it to the seller when the product is delivered. 
Kim Joo-heon Reporter
Kim Joo-heon

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