In a bid to boost brand recognition, newly launched Korean innerwear brand Mixxo Secret plans to increase its store count this year.
Founded by South Korean conglomerate E-Land Group in November, Mixxo Secret currently has just five stores, but plans to open 15 more this year, targeting sales of 20 billion won (US$17.62 million).
“The fashion industry is moving to SPA (Speciality-store of Private-label Apparel) and E-Land entered the underwear market to dominate in advance. We expect that customers who are attracted to the trendy designs and reasonable prices of SPA brands will prefer SPA branded underwear as well,” said an E-Land spokesperson.
Mixxo Secret has a wide lingerie offer as well as clothing such as dresses, jackets, blouses, shirts, pants, skirts, tops, cardigans and accessories including scarves, bags, shoes and belts.
To ensure customers always see something new, Mixxo Secret launches new items every month. It also unveils new lingerie items every thee months.
Mixxo Secret’s expansion is also a move to compete with Zara Retail Korea which is expected to launch its underwear brand Oysho in Korea and other Asian markets.
Korea’s SPA market grew to 1.5 trillion won (US$1.3 billion) in five years and is projected to reach 20 trillion won (US$17.62 billion) by 2015.