S.Korea’s Brand X establishes Taiwanese corporation

The operator of leggings brand Xexymix expects $78 mn in annual sales from Taiwanese market

S.Korea’s Brand X establishes Taiwanese corporation
Kyung-je Han 1
Jul 21, 2023 (Gmt+09:00) hankyung@hankyung.com
Fashion

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.

Xexymix
Xexymix


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

GC Biopharma's licensed flu vaccine gets approval in Taiwan

GC Biopharma's licensed flu vaccine gets approval in Taiwan

South Korea's pharmaceutical firm GC Biopharma Corp. announced on Monday that its quadrivalent flu vaccine has received marketing approval from the Taiwanese Food and Drug Administration within the Ministry of Health and Welfare.The company licensed the vaccine to Medigen Vaccine Biologics Cor

Occupancy rate of S.Korean LCCs for int’l flights hits 87%

Occupancy rate of S.Korean LCCs for int’l flights hits 87%

The average occupancy rate (AOR) on international flights of South Korea’s low-cost carriers (LCCs) has exceeded 80%, fully recovering to its pre-COVID-19 level.  Driving this trend is surging demand for LCC flights to and from Japan and Southeast Asia, and such carriers also seek t

SK Siltron to collaborate with Taiwan's Nanya on carbon neutrality

SK Siltron to collaborate with Taiwan's Nanya on carbon neutrality

South Korea's SK Siltron announced on Tuesday that it has signed a business agreement with Taiwan's DRAM supplier Nanya Technology Corporation to strengthen collaboration in ESG (environmental, social and governance) and carbon neutrality. Under this agreement, both companies will share carbo

CJ Logistics, Evergreen sign agreement for logistics cooperation

CJ Logistics, Evergreen sign agreement for logistics cooperation

Kang Byung-koo (Left), head of CJ Logistics Corp.'s global division and Eric Hsieh, president of Evergreen Marine Corp.  South Korea's CJ Logistics has entered into mutual cooperation with the Taiwan-based global shipping company Evergreen Marine Corporation for the enhancement of mariti

K-chicken chain Kyochon signs MOU with Taiwanese food conglomerate

K-chicken chain Kyochon signs MOU with Taiwanese food conglomerate

Kyochon F&B Chairman Kwon Won-gang(left) and La Kaffa Chairman Henry Wang Kyochon F&B, the company operating Kyochon Chicken, said on Friday that it has signed a memorandum of understanding for a master franchise agreement with La Kaffa International Group, a Taiwanese food service comp

Coupang launches ultra-fast Rocket Delivery service in Taiwan

Coupang launches ultra-fast Rocket Delivery service in Taiwan

Coupang's logistic center in Korea Coupang Inc., South Korea’s answer to global e-commerce giant Amazon.com, said on Wednesday it has launched its ultra-fast delivery service in Taiwan as part of its efforts to widen its presence in the Southeast Asian market.The e-commerce platform opera

Korean snack shares surge, Beijing halts baked goods imports from Taiwan

Korean snack shares surge, Beijing halts baked goods imports from Taiwan

Couque D'Asse is one of the most popular products from Crown Confectionery Shares of South Korean confectionery and packaged snack makers skyrocketed after the Chinese government announced its decision to temporarily halt the imports of Taiwanese pastries, baked goods, and sweets. In what