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Adidas Korea LLC has been upgraded to operate as an independent retail firm. This means it will now carry out its business as a separate market from the APAC or Asia-Pacific region.
Adidas Korea said on Tuesday, Jan. 2, that its retail business will be managed as a separate group from the APAC commerce, where the Australian, Southeast Asia, and New Zealand markets also belong. The company's independent operation took effect on the same day.
Reason for the Move
As per The Korea Economic Daily, the Korean unit of the German athletic apparel and footwear explained that as it begins to operate independently from the APAC, it will be able to respond quickly to the needs of its Korean customers. This is a marketing strategy to boost its presence in South Korea, as it is already losing its market share in the country.
By focusing more on what the local customers want, it will be able to offer more products that they need the most. In this way, the brand will attract more shoppers and increase its sales again.
Adidas Korea said it will be able to release items based on Korean customers' specific demands since it no longer needs to mind what the broader range of customers in the APAC region needs. The brand is losing its market share in the region to major rivals such as New Balance Athletics and Nike Inc.
Aiming to Become a Trendsetter
Adidas Korea is reportedly looking to become a trendsetter as well as it starts its independent operation in South Korea. Its goal is to connect with the world by raising the domestic market to become one of Adidas' global representatives this year, Korea's ENews Today reported.
"As Korea becomes an independent market with its elevated status globally, we will do our best as a 'trendsetter' to help our trends grow into global trends," Adidas Korea's chief executive officer, Peter Kwak, said in a statement. "Above all, we will help domestic customers follow trends through diverse experiences We will build optimized products and distribution channels and create a system that actively reflects consumer demands."
Photo by: Henry & Co./Unsplash
