Expanding outside US
Fashion Group Hyungji is planning to enter the European military supply market through its subsidiary Castelbajac.
According to industry sources on July 12, Choi Jun-ho, the CEO of Castelbajac, participated in the Poland Economic Delegation for the purpose of entering the European military supply market.
This move is part of Hyungji’s global business expansion. Earlier, Castelbajac USA, the U.S. subsidiary of Castelbajac, completed the registration of the Federal Procurement Agency’s System for Award Management (SAM) last April and declared its entry into the 10 trillion won military uniform supply market.
They are currently in the process of acquiring a local military supply factory that supplies uniforms to the Federal Bureau of Investigation and fire stations. The recent exclusion of Chinese-made clothing from the procurement market in the U.S. is also a boon for Castelbajac.
Notably, Castelbajac, which was acquired in 2016, started as a French designer brand and already has high recognition in Europe, and thus plans to make inroads into the B2C market in Europe. To this end, Castelbajac entered into a strategic business agreement with the Thailand Central Group, which operates department stores in Europe, earlier this year.