K-fashion company TBH Global (084870) has carried out a full review of the growth strategies for its entire brand portfolio ahead of next month's pilot launch of its new brand Time Out. TBH Global said on the 15th that it had reviewed its detailed brand, channel and regional strategies for domestic and international markets and established a mid- to long-term growth direction.
The strategy is built on three pillars: how each brand is rolled out, distribution strategy by channel, and market entry approach by region and country. The company plans to clearly delineate the roles of its four in-house brands and two licensed brands, and to tailor its distribution channels and overseas market strategies to the characteristics of each brand. TBH Global operates a multi-brand portfolio comprising its in-house brands Basic House, Mind Bridge, Markbrick and Jucy Judy, along with licensed brands Aquascutum and Time Out.
At the brand level, Mind Bridge will be developed as a core brand spanning online and offline channels, built on its identity of "clothes for people who work." The company explained that, with Mind Bridge now established as a brand representing the workation lifestyle, it will maintain the brand's steady growth while focusing its resources on the womenswear segment, where results have recently been gaining momentum.
Basic House is set to evolve from an essentials brand offering strong value for money to consumers of all ages into an "e-commerce SPA brand." The strategy is to focus on online while improving distribution efficiency by expanding consumer touchpoints through partners with distinctive channel strengths and competitiveness, such as Coupang and Daiso, without relying on its own offline retail network.
Jucy Judy, a daily, unique feminine casual brand aimed at young women, is shifting from an offline-centered business structure to an online-focused one. TBH Global plans to develop Jucy Judy, together with Mind Bridge Women, into a core brand that increases womenswear's contribution to overall sales.
The licensed brands Aquascutum and Time Out will each put a clearly defined category front and center: "British heritage" and "travel," respectively. As a brand with British classic heritage and a premium image, Aquascutum will expand its business around premium female customers who seek high-quality apparel at reasonable prices. Time Out, a brand for urban travelers, will target the global market.
Channel strategies will also be differentiated according to each brand's characteristics. Because trying on the product and experiencing the brand firsthand are important for Mind Bridge, its offline stores will operate as brand experience spaces alongside online channels, strengthening a structure in which in-store brand experiences lead to online repeat purchases. Basic House, by contrast, centers on essential items with low sizing risk, so it will be run primarily through online and e-commerce channels to minimize distribution costs and make purchasing as convenient as possible for consumers.
Jucy Judy will likewise strengthen its online-focused approach in order to respond nimbly to fast-changing trends in the womenswear market. Aquascutum, which requires thorough explanation of its brand heritage and high-quality materials, will expand sales mainly through home shopping channels.
The new brand Time Out aims to claim the "travel" category through large-scale promotion and marketing across both online and offline channels. It will hold an online pilot launch in Korea, Japan, the UK and the US in November, followed by offline pop-up stores alongside a full global online launch, as it steps up its push into multiple markets.
Regional strategies have also been more clearly defined. In China, the company will lead with Markbrick, partnering with a local company with strong offline distribution capabilities. TBH Global plans to improve its market entry efficiency by drawing on its past success and local business know-how in the Chinese market. Mind Bridge will primarily target Japan and Southeast Asian markets including Singapore, while Time Out will simultaneously target multiple countries, including the UK, the US, Japan and China, with the aim of growing into a global brand.
"Changing our company name to TBH Global in 2016 was a declaration that we would not remain confined to the Korean market but would expand our business into global markets," a TBH Global official said. "Ahead of next month's Time Out launch, we conducted another comprehensive review of the roles, channels and regional strategies of all our brands." The official added, "Following K-Pop, K-Food and K-Beauty, we will deliver results that can represent K-Fashion in the fashion sector. We will sharpen the identity and competitiveness of each brand and build a portfolio unique to TBH Global in the global market."
