Fashion company F&F's operating profit in the first quarter of this year rose 24.2% from a year earlier to 153.5 billion won. F&F operates brands including MLB, Discovery Expedition, and Duvetica.
According to the Financial Supervisory Service's Data Analysis, Retrieval and Transfer System (DART) on the 30th, F&F's first-quarter revenue came to 560.8 billion won, up 10.9% from a year earlier. Net income rose 139.3% to 197.5 billion won.
The company cited increased inflows of foreign customers in major commercial districts in Korea as a driver of improved results. An F&F official said, "Foreign demand has increased, led by flagship stores in key districts such as Bukchon and Seongsu, driving sales growth."
Growth continued across both online and offline channels in the Chinese market. An F&F official said, "In addition to stable growth at existing offline stores, sales expanded through major online platforms such as Douyin and JD.com (Jingdong), driving revenue growth."
F&F also disclosed a plan to enhance corporate value. It set the 2024–2027 compound annual growth rate (CAGR) for revenue at 10% and presented a target for the 2025–2027 return on equity (ROE) to average at least 20% over three years.
It plans to keep the average shareholder return ratio at 25% or more for 2025–2027 and set a minimum cash dividend of 2,000 won per share. Last year, F&F's shareholder return ratio was 27% on a separate basis, and the dividend per share was 2,700 won, with the growth rate of profit dividends rising 58.4% from the previous year.