Efforts for Price Stability, Diverse Social Contributions of Corporations.

Korea's leading fashion retail company, E-land Retail, has recently gained attention with its 'NC Basic,' known for its price disruption. This brand offers basic shirts made from materials used by overseas luxury brands at a price of less than 20,000 KRW, making it highly popular among consumers seeking affordable clothing even in times of high inflation.

 

Additionally, NC Basic produces products in a differentiated manner by simultaneously planning and purchasing fabric.

 

In September, E-land Retail introduced a new fashion brand called 'NC Basic' at three NC department stores (Songpa, Yatap, Pyeongchon). Within less than a month of its launch, the initial inventory was completely sold out, prompting the company to commence secondary production. The per square meter sales also increased by more than tenfold compared to regular fashion stores.

 

NC Basic is a brand designed to contribute to price stability during times of high inflation, consisting of 12 essential products for the wardrobe, such as basic shirts, jeans, and socks.

 

The brand's competitive edge lies in its high quality relative to its affordable prices. They use materials of a caliber similar to those used by overseas luxury brands, yet the product prices are mostly around one-third of their competitors. In comparison to UNIQLO, they are up to 60% cheaper.

 

Notably, both the basic shirts and jeans of NC Basic are priced at 19,900 KRW each, which is significantly cheaper compared to UNIQLO's basic shirts (49,900 KRW) and jeans (59,900 KRW).

 

The key to NC Basic maintaining quality while significantly lowering prices lies in purchasing fabric from mass production factories. E-land Retail's global fabric sourcing experts have identified factories that produce fabric in large quantities not only domestically but also in Shanghai, Guangzhou, Vietnam, and Bangladesh, securing fabric for overseas renowned brands at a lower cost.

 

Additionally, NC Basic produces products in a differentiated manner by simultaneously planning and purchasing fabric. This sets it apart from conventional fashion brands, where fabric is sourced after product planning and design are finalized.

 

Of course, this brand differs from SPA brands as well. SPA brands primarily sell products with the latest trendy designs and often operate large stores of over 100 square meters. In contrast, NC Basic focuses on selling basic products in smaller stores of around 10 square meters.

 

Currently, NC Basic has opened stores in NC department stores in Songpa, Yatap, and Newcore Pyeongchon. The brand plans to continue expanding both online and offline stores and has intentions to introduce a children's clothing line in the future.