Korean fashion brand MLB achieves 1 trillion won milestone in overseas sales

MLB‘s 700th shop in Shanghai [Provided by F&F]

South Korea’s apparel brand MLB based on brand licensing with the U.S Major League Baseball, will likely achieve 1 trillion won ($734 million) in overseas sales this year for the first time in the industry.

According to F&F, a fashion company behind the brand, MLB is expected to earn 1.2 trillion won in overseas sales - 1.1 trillion won from China, 52 billion won from Hong Kong, Macao, and Taiwan, and 55 billion won in Southeast Asia, including Thailand and Vietnam.

After its foundation in 1992, F&F brought in various global fashion brands, such as Benetton and Sicily to Korea. After signing brand licensing with the U.S. Major Baseball League in 1997, it reinvented fashion brand competitive for Asian markets.

Since entering the Chinese market in 2019, it opened its 700th shop in Shanghai in September this year. MLB grows faster than other Korean firms in China, and its sales will likely grow 30 percent annually over the next five years, according to Goldman Sachs.

Seeking new growth, the firm now focuses on digital transition for end-to-end business procedures, including product planning, production, shipping, and marketing.

Shares of F&F Holdings rose 23.18 percent to 18,600 won in the early session on Thursday.

By Kim Gyu-sik, Shin Hye-lim, and Jenny Lee