GALAXY rebrands itself to target younger consumers

[Photo by Yonhap]

Samsung C&T’s flagship men’s fashion brand GALAXY has announced a bold new vision and brand identity (BI) overhaul as the business celebrates its 40th anniversary this year.

The company plans to enter the global lifestyle brand market by implementing a strategy that focuses on both luxury and casual wear. The company aims to not only retain its existing customer base of men aged 50 to 60 but also broaden its appeal to men aged 30 to 40, according to its new vision revealed on Tuesday.

GALAXY also set a goal to increase its projected revenue from 160 billion won ($120 million) this year to 260 billion won by 2028.

GALAXY, which was founded in September 1983 as Samsung C&T’s men’s suit brand, is celebrating its 40th anniversary milestone this year. The brand achieved a revenue of about 100 billion won last year, and targets hitting the 160 billion won mark this year.

The market for men’s suits in South Korea has faced challenges due to factors such as a declining birthrate, the trend towards no-tie dress codes, and more office workers working remotely. It was also negatively impacted by the economic downturn and the shift of existing customers to overseas luxury brands.

Sales of men’s clothing in major Seoul department stores have been on a consecutive downward trend in recent months, according to market data.

In response to the challenging market conditions, GALAXY chose a strategy that combines luxury and casual wear. Seeking to move away from the traditional image of a men’s clothing brand, GALAXY updated its brand identity from “TIMELESS CLASSIC” to “TAILORED ELEGANCE” and redesigned its logo for a more sophisticated look.

GALAXY also plans to significantly expand its casual line and reduce the proportion of formal wear on display in its stores to 20 percent, all aimed at appealing to a younger customer base. As of August, 18 percent of consumers purchasing GALAXY are in their 30s and 22 percent are in their 40s.