New Balance Kids makes waves in Korea

[Courtesy of Lotte Shopping]

New Balance Kids is causing a sensation in South Korea despite the higher price tags compared to comparative brands. As the country’s birth rates keep getting lower, the trend of not sparing expenses for children contributed to New Balance Kids’ growth and the popularity of New Balance’s products for adults is extending to children’s products as well.

According to Eland World, which exclusively launched New Balance Kids for the first time in 2013, the Korean retailer is currently operating the kids‘ version of the American sports footwear and apparel brand in both Korea and China.

New Balance Kids has been praised for offering items tailored to market trends and based on New Balance’s unique sports identity, capturing the hearts of parents.

After surpassing 100 billion won ($75 million) in sales in 2018, just five years after its launch, the brand saw sales of 200 billion won in 2023, solidifying its position as Korea’s top children’s clothing brand. The company set an ambitious sales target of over 230 billion won for 2024, which is 10 percent higher than that for the previous year.

The number of New Balance stores, which totaled 115 in 2019 just before the Covid-19 pandemic, increased to 140 by the end of 2023. The company also continued its proactive expansion strategy by opening a large shop measuring about 321 square meters at Starfield Suwon in January 2024.

New Balance Kids’ rapid growth is attributable to its premium strategy and hit items. With luxurious pastel tones and stylish designs based on functional materials, New Balance Kids has established itself as a premium children’s clothing brand by setting slightly higher prices than competing brands. While windbreakers from Nike Kids and Adidas Kids are priced around 79,000 won, New Balance Kids windbreakers are priced at 99,000 won.

New Balance Kids has also gained popularity among mothers by introducing various hit items every season, one of which is the company’s padding jackets. The ‘Challenge Down’ released by New Balance Kids in 2018 was so popular that it sold out on the day it was released, thanks to its striking colors and design. The brand’s shoes are also highly sought after, with the 990 series released in 2015 and the 530 series released in 2016 consistently selling out with each release alongside the New Balance shoes for adults. The products gained in popularity as shoes that parents and children can wear together alongside the growing family looks trend.

New Balance Kids set a record in March 2024 by selling out of its initial stock of the world’s first hybrid sandals, ‘FREEDLE 920,’ in South Korea on the day it was launched. Even after restocking it earlier in April 2024, both the black and silver colors sold out online, and were being resold for as high as 130,000 won on a resale platform, topping the 89,000 won sale price.

Eland World plans to accelerate its New Balance Kids expansion in China further, as the company holds the exclusive licensing and distribution rights for New Balance Kids across all regions in China. After entering the Chinese market in 2021, the company saw sales of 65 billion won in 2022 and 90 billion won in 2023 and aims to increase the number of stores from the current 320 to 500 by the end of 2024.