Fashion retailing, where and how to purchase

“Dongdaemun market is one of the world’s leading business system with one-stop supply chain that includes design, fabric and parts procurement, sewing and physical distribution.” Professor Janice H. Hammond from Harvard Business School explained. + As everyone knows, Dongdaemun market immediately sells fashion products manufactured by many sewing factories around the market. On the other hand, few people know the story of the birth of such a sewing factory. After the Korean war, which lasted for three years from 1950, the Pyeonghwa Market with such a business system was first created on this marketplace. In the Pyeonghwa Market, shops were open on the first floor, and sewing factories were located on the second and third floors. When designing the market building, some of sewing factories were also put together.  According to this unique business system, merchants in Dongdaemun market produced and sold fashion products in one place. It was a wonderful thing. Since then, the sewing ...

“Designer brands for less every day!”  It is a slogan of advertisement from the luxury discount store Ross (Dress for less). These discount stores are flourishing thanks to consumer preference for luxury fashion products. Similar to a retail business like this, designer products in Dongdaemun market are sold well at lower prices. We have described this shopping behavior as the performance of triangle management of Dongdaemun market merchants such as fast, good and cheap.  As well as, such marketing strategy of Dongdaemun market merchants can be explained by ‘the law of scissors.’ The bigger the scissors, the better it cuts. Likewise, the higher the quality of a designer product, the lower the price of the product, the more it sells. The larger the gap between the quality and the price of the product, the greater the sales volume.   As the rule of scissors, Dongdaemun market merchants have been seeking to increase sales while widening the gap betwe...