Can Korean Companies only Compete in the U.S. Technology Market?
Minnesota, USA –December 21, 2011 – Although companies such as Samsung produce more than electronics, it is the only type of item that hits the U.S. market. But does this mean that Korea does not think it can compete in any other sector or that it is not profitable enough to do so? Surprisingly, South Korea is hitting center stage in NYC and the rest of America due to its newfound talent in luxury goods such as apparel, accessories, handbags, and more. Although it is undeniable that Korean people have a knack for fashion, we would have expected companies/individuals to stick with what they seem to know best –technology.
But another important part of the culture is looking its ‘best’ and achieving the optimal results in beauty care; naturally, the next step for Korea was to launch its fashion into the U.S. and World Market.
If you walk the streets in Korea, you would notice several beauty shops on every block –it is far more than the every corner that Starbucks hits in most U.S. larger cities. Obviously beauty plays an important role in Korean life; there is a distinct style among the women who walks the streets. Sometimes, you wonder if they even sacrifice comfort for beauty –the typical high-heeled women in leggings/tights and over-sized tops that expose their necklines. As ‘cute’ as the styles may be, it can be just as sexy or runway-ready as the styles that hit the greatest fashion shows.
The Korean Luxury brand such as MCM may not be known in all parts of the U.S., but it is only a matter of time before it blasts off in success just as LG and Samsung did; MCM features shoes, accessories, and even handbags for both women and men. If you browse its site, you’ll quickly realize how unique it is; it even goes against the typical styles that you see on the Korean streets. It is a mix of retro and modern look; there’s a hint of style dating back to the early 1900’s. How could Korea not compete in the world fashion market with this under its belt?
MCM won the “Best New Product” award in Shanghai –the city which is quickly becoming the ‘fashion capital’ of the world; could this indicate that South Korea is the next “Most Valuable Player” in the U.S. Fashion Market as well?