The fast fashion brand of the fashion division of Samsung C & T has been on the brink of exceeding 40, the number of stores in Korea. The firm geared up to catch up ZARA, the third-largest fash fashion brand in Korea.
The number of domestic stores in 8 Seconds will increase from 39 to 41 by the end of this month. It increased by 5 from 36 at the end of last year.
8 Seconds will open three stores in the metropolitan area, including Seoul, this month alone. It opened the store in Myund-dong branch of Lotte department store in May 1, followed by Lotte Premium outlet in Icheon on May 13. It is also planning to open Hyundai City Outlet Garden Five at the end of this month.
EightSeconds, officially launched in 2012, has been known as ‘Lee Seo Hyun Brand’ because Lee Seo-hyun, president of Samsung C & T’s fashion division, has elaborated the brand for three years.
She planned to enter the Chinese market with the goal of becoming the third fast fashion brand in Asia. Last year, it opened its first flagship store in the center of Huaihai Road in Shanghai, China. The brand gained a huge popularity in China by releasing products which collaborated with Big Bang’s GD who was a model of 8 Seconds. However, as the investment cost has been rising in the early stage of China, the two subsidiaries in Shanghai have suffered an operating loss of 7 billion won.
8 Seconds will focus on stable operation of its existing Shanghai flagship, rather than aggressively expanding its business in China for the time being, and will aggressively boost its business by expanding distribution channels in Korea.
The GD collection, which was first introduced in Korea and China last year and was hit by Chinese, will continue to be released. GD has been collaborating with 8 Seconds for the first time as a fast fashion brand in Korea. The third collection, released last month, featured items from the daily life of GD.
An official from Samsung C & T 8 Seconds said, “We are pursuing a full-scale business with the release of 8 Seconds Summer Collection with model GD.” “We plan to expand distribution in China as well as domestic distribution”.
