Oh Gyuo-sik, CEO of LF, said on the 26th, "In 2025, we will enter emergency management to prepare for a perfect storm."
During the regular shareholders meeting held at the LF headquarters in Seoul on the same day, Oh noted, "2024 was a challenging year with deepening domestic and international economic uncertainties, but as a result of ongoing business restructuring and future investments, we achieved sales of 1.95 trillion won and operating profit of 126.1 billion won."
Oh particularly presented a strategy centered on core brands, accelerating global expansion, and expanding investments in related projects as the main management policies for this year, emphasizing that "a company-wide survival strategy is urgently needed to prepare for slowed real growth next year."
In the institutional sector of fashion, key brands such as "Hazzys," "Dunst," and "A.T.C. " led continued growth. In particular, Hazzys successfully entered the Russian and Indian markets based on its establishment in the Chinese and Vietnamese markets, enhancing brand value through participation in London Fashion Week and collaborative marketing. A.T.C. Vanessa Bruno accessories achieved successive successes through product development and strengthened communication strategies, being recognized as a representative case internally.
Dunst has made a full-scale entry into the Chinese market since the second half of last year after establishing itself domestically, strengthening its portfolio by launching six new active sports brands including Quiksilver, Oxy, and Billabong.
LF's non-fashion institutional sector also contributed to the rebound in performance. The food sector has strengthened the distribution of food materials centered on Monomart while launching the new HMR brand "Hanban12" following "Hakoya" to expand manufacturing capabilities. The financial subsidiary LF Investment is pushing for diversification of investments in energy, technology, and bio sectors, achieving results in securing policy finance.
The real estate financial business achieved stable revenue even amid an economic downturn through the sale of domestic commercial real estate and proactive risk management.
Oh presented five key priorities related to this year's management strategy: ▲ management centered on core brands ▲ acceleration of overseas expansion ▲ promotion of related industry mergers and acquisitions ▲ risk and cash flow management ▲ maximization of shareholder value.
He said, "We will decisively reorganize businesses with low growth potential and weak revenue and focus resources on competitive brands," adding, "In particular, we plan to increase the market share of Hazzys, Dunst, and Maestro locally, and accelerate the entry of A.T.C. Cosmetics into Japan."
Along with this, the plan is to widen food export lines to Europe, Japan, and Thailand, while expanding local investments. The real estate finance and new technology investments will also strengthen globalization through overseas partnerships.
Oh said, "With market uncertainties reaching their peak this year, company-wide risk management is essential," adding, "All employees will be dedicated to improving revenue and building a foundation for sustainable growth."