The company said it submitted the preliminary listing application to the Korea Exchange (KRX), a required step before proceeding with an initial public offering (IPO).
Founded in 2015, Taeseok Optical has built its business around eyewear manufacturing, sourcing and distribution. Its strategy centers on developing and securing products quickly to respond to changing fashion trends and consumer demand.
Its portfolio includes Viewmap and SUPPORT LIGHT, two eyewear brands created by the company, as well as Brera and Harry Mason, which it later acquired.
It has also broadened its lineup through distribution licenses for global fashion brands including Vera Wang, TUMI, Anna Sui, Maje and AllSaints. The licenses allow it to expand its eyewear business under established global labels in the country.
More recently, Taeseok Optical has expanded beyond eyewear into other fashion products, using its sourcing and distribution network built through its core business.
That expansion has supported rapid growth. The company said revenue increased at a compound annual growth rate of 115 percent over the past three years.
Its sales network has also widened from home-shopping channels to department stores, duty-free shops, online malls and its directly operated flagship store in Seoul’s Seongsu district.
Taeseok Optical said it plans to adapt sales strategies to the customer base of each channel as it works to strengthen its brands and increase revenue.
AJP Takeaways
- Taeseok Optical has entered the preliminary review process for a KOSDAQ listing.
- Taeseok Optical sells its own eyewear brands and products under global labels including VERA WANG, TUMI, ANNA SUI, MAJE and ALLSAINTS.
- Taeseok Optical said revenue grew at a compound annual rate of 115 percent over the past three years as its sales channels expanded.
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