SPA Brands' Heyday... 'TENTEN DAY' Scores a Hit with Half-Price Winterwear

SPA Market Grows Amid High Prices
Strong Sales of Functional Clothing
Built on a Nationwide Network of 532 Stores... Strengthening Product Competitiveness

TOPTEN, the vertically integrated specialty apparel brand operated by Shinsung Tongsang, is aiming for a second heyday this year. Sales of functional clothing have been strong, while the spread of value-conscious spending amid high prices is also seen as a positive factor. With competition in South Korea's SPA market intensifying, TOPTEN is expanding its “TENTEN DAY” event, its biggest discount promotion of the year. Attention is focused on whether it will set a symbolic record as a homegrown SPA brand.

According to the fashion industry on October 26, TOPTEN is holding its second “TENTEN DAY” promotion of the year with TOPTEN KIDS through November 8. TENTEN DAY is TOPTEN's flagship discount event, and starting this year it has been expanded to twice a year. The promotion offers discounts of up to 50% on key winter products, including lightweight padded jackets, fleece and knitwear. TOPTEN is also working to strengthen its brand competitiveness by naming actress Jun Ji-hyun as its model this year and promoting a “Goodwear” strategy that emphasizes materials and comfort.

Jun Ji-hyun's pictorial for TOPTEN. TOPTEN

Restoring Shinsung Tongsang's Overall Business Scale Also a Challenge

TOPTEN has moved to strengthen its product competitiveness this year with the goal of returning to revenue growth. Launched by Shinsung Tongsang in 2012, TOPTEN grew rapidly after benefiting from the consumer boycott of Japanese products that began in 2019 in response to Japan's export restrictions. Revenue surged from KRW 300 billion in 2019 to KRW 900 billion in 2023 and KRW 970 billion in 2024.

In addition to TOPTEN, Shinsung Tongsang operates ZIOZIA, OLZEN and ANDZ. As these brands continue to struggle, restoring growth at TOPTEN, its flagship brand, is an important challenge for the company as it seeks to turn around overall revenue. Shinsung Tongsang's consolidated revenue for fiscal 2026 (July 2025 to June 2026) was KRW 1.3833 trillion, down 6.3% from the previous year. Revenue has declined for two consecutive years since reaching KRW 1.5079 trillion in fiscal 2024.

The market environment is favorable. Even amid high prices and subdued consumption, SPA brands offering reasonable prices and quality are expanding their customer base. UNIQLO, which leads South Korea's SPA market, recorded revenue of KRW 1.3524 trillion in fiscal 2025, up 27.5% from the previous year. MUSINSA STANDARD also saw its combined online and offline sales exceed KRW 470 billion last year, an increase of more than 40%. SPA brands combining competitive prices with quality materials and design are broadening their consumer base, analysts say.

May Sales Top KRW 100 Billion... TENTEN DAY Is a Key Move for the Second Half

TOPTEN's strengths include its nationwide offline retail network and practical product range. As of October this year, it had 532 stores nationwide. Its retail network extends beyond major urban centers into local communities, and it has built a broad customer base with everyday essentials, including functional underwear and T-shirts, that consumers buy repeatedly.

There have also been signs of a sales recovery this year. Sales topped KRW 100 billion in May, up 28.7% from the same month a year earlier. The increase was driven in part by strong sales of functional clothing, including “Coolair,” made with cooling fabric, and the large-scale “TENTEN DAY” discount event, which was held in the first half of the year for the first time. About 80% of sales in the early days of the event came from offline stores, also demonstrating the strength of the nationwide retail network.

Industry observers expect sales of key winter products to determine the company's annual performance. TOPTEN is aiming to capture fourth-quarter demand with functional underwear, heat-retaining clothing and lightweight padded jackets. Competition has also intensified, with MUSINSA STANDARD setting a goal of KRW 1 trillion in combined domestic and international transaction value this year.

Shinsung Tongsang's TOPTEN and TOPTEN KIDS Hold 'TENTEN DAY' in the Second Half of the Year. TOPTEN

Competing with UNIQLO and MUSINSA... Brand Differentiation Is Key

Establishing a distinctive brand identity is seen as a key challenge going forward. UNIQLO has secured a stable customer base with functional clothing such as HEATTECH and AIRism, while strengthening its designer collaborations and large-store strategy. MUSINSA STANDARD is extending its online customer base into offline retail and attracting younger consumers. Materials, design and the shopping experience, not just price, have become major factors in purchasing decisions. TOPTEN's strength lies in practical basics that the whole family can wear at affordable prices. As competition in the SPA market shifts from price to product quality and brand preference, creating clear reasons for consumers to choose TOPTEN will be key to sustained growth, analysts say.

“SPA brands can boost short-term sales through discount events, but sustained growth depends on how many customers they can attract who are willing to buy products at regular prices,” a fashion industry expert said. “For TOPTEN, an important challenge will be to increase customer loyalty and maintain stable profitability while expanding its business.”

This content was produced with the assistance of AI translation services.