Hyungji I&C Sees October Online Sales Surge 89%, Raising Hopes for Improved Q4 Results

Hyungji I&C is raising expectations for improved fourth-quarter results, driven by growth in its online business.

Hyungji I&C said on October 22 that October online sales for YEZAC, BON, and CARRIES NOTE had increased 89% year on year as of October 18. The company said sales across its online business had expanded as strong sales on major third-party online platforms and growth at its own online store continued simultaneously.

This growth is attributed to a combination of factors, including the expansion of promotional events on external platforms, entry into new distribution channels, and strong sales of fall/winter (FW) season products.

Hyungji I&C has improved sales efficiency by tailoring product offerings to the characteristics of customers on each online channel and expanding its participation in promotional events on major platforms. It has also broadened customer reach by adding new online distribution channels while strengthening the product assortment and promotions at its own online store.

Growth has also been seen in its proprietary online channels. Cumulative sales this year at its online store Hijin.com and its Naver Brand Store were up 71% year on year as of October 18.

The stabilization of the operating system of the Velocity Commerce (VC) organization, which is dedicated to the online business, has also contributed to sales growth. Hyungji I&C is focusing on improving product management and responsiveness to promotions based on sales data and customer feedback by channel, as well as on enhancing sales efficiency and profitability.

The company expects sales of key FW season products and more efficient management of online and offline distribution in the fourth quarter to support improved results. It believes that online sales growth can contribute not only to an increase in total revenue but also to improved operating profit.

A Hyungji I&C official said, "The competitiveness of our online business is strengthening further as both external online platforms and our own online store grow." The official added, "Through the stable operation of our VC organization and a sales strategy focused on efficiency, we will sustain sales growth in the fourth quarter and focus on improving operating profit."

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