Korean outdoor apparel company Nepa aims to generate 1.3 trillion won (US$1.2 billion) at home and abroad by 2020.
At the proclamation ceremony of “Vision 2020” being held at Lotte Hotel on April 6, Nepa President Park Chang-kun said, “We will jump up to be a global outdoor clothing brand through aggressive investment. We will turn over 800 billion won [US$737.4 million] in Nepa, 300 billion won [US$276.52 million] in Isenberg and Nepa Kids, and 200 billion won [US$184.35 million] overseas.”
In order to do so, the company will invest a total of 290 billion won (US$267.31 million) in strengthening its apparel design.
In particular, Nepa will develop innovative and creative products in cooperation with its design studio in London. Also, it will open a design studio in France.
Nepa will scout for designers who have worked for global fashion brands, analyze the fashion trends, and develop new material and new technology with Seoul National University Fashion Lab.
For foreign business, the company aims to open 500 outlets in Europe and China by 2020. Nepa is scheduled to open its European flagship store in Chamonix, France, in July, the firs to do so in the domestic outdoor apparel industry.
Park said, “Chamonix is considered to be a “shrine” of European outdoor clothing. A Korean company opening a store in the region is an epoch-making event.”
Nepa will also select a partner company in China to develop and manufacture products through cooperation, along with marketing. It will also open stores in Beijing and Shanghai next year.
The company will also expand new brand businesses such as Isenberg and Nepa Kids. Isenberg is a new brand launched in 2013 with the concept of “Your Stylish Outdoor Life.”
Its sales reached 20 billion won (US$18.43 million) last year. However, Nepa is planning become a brand generating 40 billion won (US$36.87 million) this year and 220 billion won (US$202.78 million) in 2020 through its aggressive marketing.