Fashion retailing, where and how to purchase

DONGDAEMUN STYLE Title: DONGDAEMUN STYLE Price: KRW 18,000 Author: Bong (Bong Sik) Sul Publishing Date: Nov / 18 / 2019 Product Dimensions: 140*210 Pages: 323P Category: Business/ Marketing ISBN: 978-89-268-9707-2 13320 Keyword: Dongdaemun Market, Korea, Shopping, DDP, K-fashion   Copyright ⓒ 2019 by Bong(Bong Siik) Sul all rights reserved This book was published by Korean Studies Information Co. Ltd. in 2019 tel: 031)940-1111 / fax 031)908-3189  Book Review In August 2018, a big data analysis on the image of foreign tourists summarized the responses to Seoul very effectively. “Seoul is a youthful city, enjoying an evening with people and it is quite energetic.” Dongdaemun market is a global shopping district that sells designers’ fashion products at low prices. Wholesalers who operate at night time are making great business performance through triple management which focuses on superiority of products(good...

Let’s Go Together’ Management   “The damaged leaves of the tree are pretty because they were eaten by insects. The trace of living by feeding others is as beautiful as a star.” Recently, it is a large advertisement copy on the wall of Kyobo Education Life Building. This is a content that praises the beauty of life of altruism. Dongdaemun market is a global shopping district that sells designers’ fashion products at low prices. Wholesalers who operate at night time are making great business performance through triple management which focuses on superiority of products(good), speed(fast) and price(cheap). Local retailers and foreign buyers try to increase the margin of retail transactions with fashion products purchased from Dongdaemun wholesale market. Therefore, they would like to buy Dongdaemun designer products at a lower price as much as possible. Under these circumstances, SeoulClick has continued its sustainable management with Stakeholders with low price,...

Speaks in Quality of Fashion Products “Even the best clothes can have minor scratches.” The Dongdaemun myth is a beautiful story about the management performance obtained by selling designer brand products at low prices.  Unfortunately, Dongdaemun market is sometimes deteriorating its market image due to poor quality control. We know well what’s the keyword QM (Quality massage). If any company is always producing quality products, those companies will be able to sell their products without advertising or PRs. For example, some of products from a good company like Samsung or LG, sell easily because consumers rely on products’ quality. The quality of the product is advertising and PRs itself. As chairman Suh Kyung Bae of Amore Pacific said, he seems to be setting up a quality-oriented global management strategy. “It is because of the Korean wave that Chinese people like Made in Korea products! Yes, but the repurchase is strictly based on quality control, and what ...

There is a Tokkebi(Goblin) Market in Korea Do you know what a Tokkebi market is? In Seoul, anyone can easily go to the Tokkebi(goblin) market. But those who first hear it may be wondering. The legendary Tokkebi is one of the most interesting folk stories. The Tokkebi lights that appeared during the dark night is just fantastic. However, in the morning when the sun rises, the Tokkebi and its lights disappear. Before modern society, many Koreans believed on folktales. “Tokkebi is a god for abundance that brings money, goods, and food to the needy people.” There is also a word ‘Tokkebi bat’ like Genie. The old tale said that Tokkebi carried a bat as a tool to produce anything. We are sure that anyone can possibly have such legendary Tokkebi bats in Dongdaemun market. Everyone can expect it. In any case, we have thought that it is better to call Dongdaemun market as one phantom market because most of the wholesale stores in Dongdaemun market open around 8:30 pm and close ne...

Ethical Management in Fashion Business and Sprit of Jean Tae Il As we know well, many Global SPA brand companies are selling mass-produced products using low-cost labor, low-cost raw materials, etc. at low prices. The problem is that fast fashion companies are criticized for environmental pollution, low wages and labor exploitation because of the shortsighted strategy that prioritizes superiority in price competition. Of course, there was no commercial morality such as low wages and labor exploitation in the Dongdaemun market during the 1970s, which was the age of development. “Why don’t factory owners follow the Labor Standards Act. We are not machines. Please make Sunday as a rest day with others.” In the early winter of 1972, Jeon Tae Il who worked in the Pyeonghwa Market put himself in gasoline and burnt himself to death in front of the market. And before he died, he said. “Do not make my death worthless.” Even after the death of Jeon Tae Il, however, any workers hav...

Designer Products with ‘Newness and its Diversity’  “We know that H&M, one of the global SPA brands has been in a crisis due to the Amazon effect. However, the crisis of this company is the result of lack of sustainable management.” The media criticism is spreading to all other global SPA companies like Zara, Uniqlo, etc. As well as, the criticism of these global SPA brands is not over. As we consider it more deeply, the global SPA brands are facing another crisis. SPA brand products such as Zara, H & M, Uniqlo have gained popularity from consumer in the global market. But their products are not so ‘fast’. Rather, it is a product with lower quality or slower speed as a by-product of old mass production era. Now it is a new era of producing small quantities of various products to suit consumer preferences. Today’s consumers do not like products that are manufactured using automation machines. They prefer handmade fashion products rather than machine-made ones....

How to mine ‘Pearls in the Mud’ “You know what. A lot of people are mining pearls in mud at the night market.” Perhaps everyone will say quite surprised, “Excuse me. What do you mean?” But that’s true. Many domestic fashion clothing retailers and foreign buyers often go to Dongdaemun market in Seoul. They go from place to place in Dongdaemun market to buy better fashion products made by designers at lower prices. In August 2018, a big data analysis on the image of foreign tourists summarized the responses to Seoul very effectively. “Seoul is a youthful city, enjoying an evening with people and it is quite energetic.” There are two notable landmarks in the Gangbuk area of Seoul. One is Dongdaemun(the East Gate), which was built in 1396 to the east of the old city of Seoul, and the other is Dongdaemun Design Plaza, which was designed and built in 2014 like a spaceship that landed some time ago Based on these two landmarks, Dongdaemun market is a world-class shopping dis...

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