Once hip-hop fashion rivals Samsung-YG hold hands: A peek into the partnership
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[KBS 인터넷 뉴스 = 이재설 기자] Fashion brand, created with the partnership of YG Entertainment and Samsung Group was finally unveiled.
Samsung’s affiliate Cheil Mojik and YG went hand in hand to create a fashion brand “NONAGON,” which was unveiled on Sept 11. It has been 2 years since the two companies created a joint venture “Natural9” by investing their shares.
Cheil Mojik and YG announced that they will begin the “NONAGON” business in full force through the co-founded “Natural9.”
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Natural9 is a co-founded company in August 2012. Their plan is to target youth around the world in the street fashion market. YG’s CEO YANG MIN SUK is the head of Natural9. Cheil Mojik and YG account for 51% and 49% of the shares respectively.
The latest fashion brand “NONAGON,” meaning 9 angles, is a symbol of infinite growth and diversity. It is based on street culture, or hip-hop, which can be phrased as young street casual.
The targets are those in their late teens or early thirties. Including leather jackets, shirts, mini dresses and snapbacks, the brand covers more than 50 items. Prices range from KRW 400,000 for leather jackets, KRW 200,000 for shirts, KRW 900,000 for down jumpers and KRW 40,000 for snapbacks. Designers from Natural9 developed the grand. Some are from Cheil Mojik while others were selected by YG.
Natural9 is to sell products temporarily in pop-up stores, online shopping malls and select shops.
Starting from Galleria Department Store’s brand shops on Sept 12, the pop-up stores will be open on 10 Corso Como in Cheongdam and Avenual, Beaker in Cheongdam and Hannam. This will branch out overseas as well, from Milan’s 10 Corso Como headquarter and in Shanghai and Hong Kong. Natural9 aims to go beyond spreading K-pop, and the fact that it penetrates the world’s fashion markets through collaboration between fashion and entertainment agency is quite meaningful. Natural9 plans to promote the brand NONAGON actively through YG artists’ concerts home and abroad.
CEO YANG commented, “The synergy effect will be maximized by Cheil Mojik’s know how and expertise in fashion and YG’s marketing and producing skills. Next year will be the first year for the company to take a leap, and through various distribution strategies, we will reach a sales of KRW 100 billion until 2017.”
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Cheil Mojik is South Korea’s largest fashion company, owning Bean Pole and Galaxy. YG is an entertainment agency where artists like BIGBANG, 2NE1, WINNER, AKDONG MUSICIAN, PSY and EPIK HIGH belong.
All eyes are on the collaboration of the two companies as this is their second challenge in the hip-hop fashion brand. Cheil Mojik once actively jumped into the business by having the license for America’s casual hip-hop brand FUBU. But in the arrangement of brand portfolio last year, Cheil completely relinquished their FUBU business that they began in 1999. YG also gained much popularity with Majah Flavah, which started with JINUSEAN’s SEAN. Once rivals in the 1990’s, Cheil Mojik and YG are going hand in hand to target the same market after 15 years – but as partners now.
2014. 9. 11.
