Korean fashion house Handsome focuses on accessories to boost business

TIME’s mini leather bag [Photo captured from thehandsome.com]

Handsome Corp., a fashion house under South Korea’s Hyundai Department Store Group, is expected to go all-out to promote its accessories business, which includes bags, shoes, and jewelry, with an aim to boost related sales by more than 20 percent every year based on a luxury and diversification strategy.

According to Hyundai Department Store Group on Tuesday, Handsome has been enhancing its accessories business with an aim to become a “total fashion” company that engages in all of the fashion lines from accessories to apparel.

The move comes as sales of accessories have been growing amid a rise in the number of consumers buying bags and shoes to match their outfit.

The accessories division of its high-end women apparel brand TIME plans to expand its customer base by creating a signature accessory product that represents the brand, just as how French luxury brand Chanel captured the hearts of consumers around the world with its signature bag.

Handsome established a new business strategy with a goal to boost sales from accessories by more than 20 percent every year.

Rouge & Lounge, an accessories brand of Handsome, also plans to expand its product line to include lifestyle.

Under the strategy, Handsome plans to double the number of premium bags released by its fashion brands TIME, MINE, Lanvin Collection, and OBZEE starting this year and increase the proportion of bags of the fashion brands to 20 to 30 percent from the current 10 percent.

The fashion house is hoping to reach out to more consumers with a diverse range of products and designs.

It will also upgrade the materials it uses in its accessories.

TIME’s premium bags will be made from top-notch imported fabric directly sourced from overseas, including those from Maria Kent of France, one of Chanel’s three major fabric partners, and Limonta S.p.A., an Italian high-end textile company.

The jewelry line materials will be also upgraded.

The company is considering the use of luxury materials such as lab diamonds with the same light and properties as natural diamonds and gemstones and sterling silver. The plating requirements will be also enhanced to showcase more durable products.

Handsome also plans to increase the production of TIME shoes in Europe including Italy by 20 percent from a year ago to add luxury to its shoe products.

“Some of TIME’s shoe product lines are being produced in Italy by a local company in Tuscany, which is famous for the finest leather shoes,” said an unnamed official from Handsome.

“We will gradually increase the supply of shoes handcrafted in Italy.”