As the domestic and overseas athleisure (workout + everyday apparel) markets grow, Korea-based corporations such as Xexymix and Andar are actively expanding abroad. The running boom continues in Korea, and many people are expected to plan steady exercise for the new year. Global brands are also opening stores in Korea and focusing on securing customers.
According to the Financial Supervisory Service's electronic disclosure system on the 1st, Xexymix posted 69.9 billion won in sales and 6.1 billion won in operating profit on a consolidation basis in the third quarter of last year. Compared with a year earlier, sales and operating profit rose 2.5% and 27%, respectively. Xexymix cited increased sales in the Japan market as a key driver of improved results. The company is aggressively targeting the Asian market, including by opening four stores in China this year. It currently operates offline stores at 30 locations in China, three in Japan, and three in Taiwan. It is also reportedly reviewing entry into the U.S. market. A Xexymix official said, "We are preparing to open offline stores in various countries, including two in Japan by early next year, one popup in Taiwan, one in Indonesia, one in the Philippines, and one popup in the Philippines."
Andar, another Korea-based athleisure brand, said last month it recorded 77.4 billion won in sales in the third quarter of last year. The figure, up 7% from a year earlier, marked its largest third-quarter performance on record. Over the same period, operating profit fell 21.3% to 9.6 billion won. Andar has entered the domestic and Asia-Pacific markets under the Andar brand, and Western markets such as the United States under the Stretcheryourstory brand. It operates online stores targeting Japan, Singapore, and Australia. In Singapore, it operates two standalone stores.
As the domestic athleisure market grows, global brands are also actively entering the domestic market. According to market research firm IMARC, Korea's athleisure market in 2024 was $7.771 billion (about 10.874 trillion won) and is expected to grow at an average annual rate of 6.01% to reach $12.9705 billion (about 18.1496 trillion won) in 2033.
Lululemon, a Canada-based brand known for premium apparel such as high-end leggings, currently operates 23 stores in Korea. In Nov. last year, it also opened its first flagship store in Gangnam, Seoul. Gareth Pope, Lululemon's Asia-Pacific president, said at the time, "Korea is one of the fastest-growing markets in the Asia-Pacific region," adding, "We will expand our presence with various store formats, community programs, and localized products." U.S. premium brand Alo Yoga opened its first flagship store in Korea in June last year and introduced popup stores and directly managed stores. Global SPA brand ZARA also expanded its athleisure line by rolling out its high-performance activewear "Athleticz collection."
Industry officials say the line has blurred as athleisure is increasingly used as everyday wear, and as the Asian market grows, expanding the share of overseas sales has become important. An industry official said, "There is a limit to growth with sales generated only in the domestic market, so there is a prevailing push to expand abroad," adding, "In particular, Northeast Asia and Southeast Asia are experiencing an athleisure boom, so companies need to focus on overseas markets to secure an early foothold."