S.Korea’s Brand X establishes Taiwanese corporation

South Korea's media and e-commerce company Brand X Corp. announced on Friday that it has established a Taiwanese corporation. The move seeks to amplify its presence in the area and bolster local competitiveness.

Since its inception in 2017, the company's athleisure brand, Xexymix, has made remarkable strides, spanning 55 countries through both D2C (direct-to-consumer) and B2B (business-to-business).

Taiwan is a country with a high preference for K-culture and K-fashion, and the interest in and demand for domestic sportswear is growing.

According to Brand X, Taiwan is the second-largest overseas market after Japan, and its revenue in the first quarter of this year increased by 84% compared to the same period last year.

In light of these compelling figures, Brand X has opted to integrate its current trade partner as a subsidiary.

In an effort to expand its local footprint, Xexymix is enhancing its customer touchpoints via showrooms and pop-up stores across Taiwan. The brand is adopting a multifaceted marketing approach, tailored to resonate with the local market's nuances.

Brand X is also making the most of Taiwan's bustling sports scene by getting involved in high-profile sports events. Notably, it has taken part in marketing for the 2023 WNBF Taiwan global bodybuilding competition and the Garmin Run Asia Series Taipei-Women's Running Competition.

With expectations of the annual sales from its Taiwanese corporation reaching 10 billion won ($78 million) this year, Brand X envisions that expanding infrastructure and boosting revenue will pave the way for both internal and external stability following the incorporation into its consolidated corporation.

Write to Kyung-je Han at hankyung@hankyung.com