Communication, speed are keys to rapid ascent of Matin Kim

Matin Kim shop [Source : HAGO L&F]

South Korean women’s wear brand Matin Kim will continue to focus on active communication with consumers and upgrade cloth designs based on consumer’s opinions in a speedy manner to grab royal customers who have helped it make a rapid success only in five years after its launch, its founder said.

Matin Kim is projected to deliver more than 50 billion won ($38.5 million) in sales this year, more than tripled from a year earlier. It raked in 5 billion won in sales in 2020.

Founded in 2017 by Dain Kim, who is also CEO, Matin Kim’s rapid success is largely driven by the company’s active communication with its customers to improve products and speedy responses.

“Matin Kim was able to gain trust by reflecting customers’ needs directly in the products, which has been very highly regarded,” Kim said during a CEO forum in fashion, beauty and retail industries hosted by Maeil Business Newspaper on Dec. 15.

CEO forum in fashion, beauty and retail industries hosted by Maeil Business Newspaper on Dec. 15. [Photo by Park Hyung-ki]

She noted that the advancement in digital technology that has led a social network service boom has made it possible for companies to interact with customers in real time, making it easy to reflect latest trends in fashion designs.

It takes at least three to four months, or maximum more than a year for traditional fashion houses to reflect customers’ needs and change the designs because they follow an annual production, release and marketing plan.

But Matin Kim can release “a design update in just two weeks after the customer responses,” Kim added.

With the speed and communication, Matin Kim’s operating margin as of November reached 28 percent, and 87 percent of its products have been sold out without any massive discount event or outlet sales.

Still, design and quality come before anything for a fashion house, Kim said. Korean consumers are picky in choosing products even when they buy a piece of clothing, said Kim, adding that they don’t buy products with compromised quality and design no matter how well a SNS influencer promotes it well.

With its success at home, Matin Kim is seeking to go abroad and add cosmetics to its business portfolio.

“Matin Kim targets to become a brand with a value of $100 billion won,” she added.