Lifestyle company LF announced on the 15th that it has selected 'MULTI' as the keyword encompassing this year's footwear fashion trend.
As customer needs diversify, brands and products that satisfy both functionality and fashion aspects 'multi-dimensionally' and cross the boundaries of everyday life, hobbies, and business are expected to emerge, along with a prediction of the ever-changing footwear market trend that includes diverse collaborations. 'MULTI' is derived from the first letters of the English words Minimalism, Unique, Luxury, Technology, and Interaction.
LF has been strengthening its brand portfolio by consistently introducing imported shoe brands for all age groups, genders, and price ranges, including 'KEEN', 'FITFLOP', 'Cole Haan', 'TOMS', 'VAGABOND', 'PREMIATA'. Due to years of solid partnership with global headquarters, there has been a continuous increase in domestic fandom and the active discovery and successful establishment of new brands, resulting in a 15% increase in total footwear brand sales compared to the previous year.
#Minimalism (Minimalism) Following last year's 'old money look', a trend of classic 'minimal' styling is anticipated
Following last year's fashion industry-leading 'old money look', this year is expected to see a trend in minimal styling inspired by 90s minimalism. With various fashion trends based on classics such as 'officecore', 'businesscore', 'librariancore', 'preppy look' derived from the neat style of 'minimal look', dress shoes (loafers, oxfords) style in footwear fashion is expected to gain popularity this year.
Also, as the purchasing power of men aged 35-45 with a firm fashion taste strengthens, the purchase of men's business casual dress shoes is also expected to rise. The American shoe brand 'Cole Haan', sold by LF, saw about a 10% increase in customers last year compared to the previous year, with the representative Oxford shoes leading the way, and customers in their 35-45s making up about 40% of the male customer base.
#Unique (Unique) Unique limited editions and collaborations accelerate fandom growth with fresh marketing
Last year was marked by the launch of unique limited editions and various collaborations. This year, too, different footwear brands are expected to continue with fresh collaborations and limited edition marketing, providing existing customers with new innovative experiences and first-time buyers with a strong incentive to purchase.
For instance, the American urban outdoor shoe brand 'KEEN', imported and sold by LF, released a limited edition collection 'Hiking Patrol' collaboration inspired by the European tropical rainforests to celebrate the 15th anniversary of 'JASPER' last year, which sold out in just two weeks due to its popularity. Over 90% of KEEN's customers last year were first-time buyers, indicating successful new fandom acquisition. This year, they plan to actively pursue new customer inflows, not only maintaining existing fandom but also through collaborations with various industries such as domestic and international fashion, lifestyle, and culture.
Additionally, LF's global sports brand 'Reebok' has also continued to present unique limited edition shoes through collaborations with various fashion brands such as HedMayner, KANGHYUK, and JJJJound.The collaboration sneakers between Reebok Club C and JJJJound were an instant hit, selling out online in just 5 seconds, confirming the hot response from customers towards limited editions.
#Luxury Popularity Forecast for Premium/New Luxury Shoe Brands
This year, despite the ongoing recession, the popularity of new luxury shoes is expected to rise due to the trend of polarization and the expanding need for luxury goods. Last year, LF began importing and selling the Italian premium shoe brand 'PREMIATA', thereby securing a high-end line.
Premiata, with its unique design, has gained a fan base in Korea and led the premium sneaker market, recording a monthly average sales growth of 35% in the latter half of last year. This year, LF plans to strengthen PREMIATA's platform sneaker lineup and target fashion-conscious consumers and sneaker enthusiasts who are willing to invest in high-priced, unique shoes, further expanding its 'New Luxury' brand, which has a long tradition and history.
#Technology Increased Interest in Leisure Leads to Focus on Technologically Advanced Footwear
With growing interest in sports, leisure, and outdoor activities, technology-based 'Technology Footwear' brands are expected to stand out this year. The British shoe brand 'FitFlop', imported and sold by LF, has established itself as a leader in stylish and comfortable footwear, offering both functionality and fashion with its biomechanically-based 'Microwobbleboard™' technology.
- Microwobbleboard: FitFlop's proprietary technology with a triple-density outsole that disperses foot pressure and reduces fatigue.
FitFlop's flagship sandal 'LULU', which features this technology, has become a mega-hit item with cumulative sales of 580,000 pairs since its LF launch in 2017. Last year, FitFlop expanded its lineup beyond sandals to sneakers, boots, and cold-weather shoes, and this year, it plans to aggressively market with the Microwobbleboard technology-applied 'F-mode' and 'Gen-FF' lines.
'Cole Haan' has also established itself as fashionable technology footwear, upgrading its 'Original Grand' technology based on the 'Lunar Grand', which combines a sneaker sole developed from Nike's Lunar series with an Oxford upper. Compared to other footwear brands on LF Mall, Cole Haan has about a 10% higher repurchase rate, steadily gathering a fandom with its comfortable wear.
#Interaction Expanding Points of Contact such as Exciting Pop-up Stores for Customer Experience Innovation
Given the importance of fit and comfort based on individual foot shape and size, the O4O (Online for Offline) channel strategy, which freely mixes online and offline shopping experiences, will become even more important this year. Last year, LF held pop-up stores for brands like 'KEEN' and 'TOMS' at various offline points such as lifestyle edit shop 'Raum East', Hongdae street edit shop 'Worksout', and container complex mall 'Common Ground', garnering responses from MZ generation.
This year, LF plans to continue increasing various channel mixes and direct customer engagement points such as pop-ups to target the ever-changing MZ generation. While conducting various pop-up stores tailored to each brand's target customers, LF is also planning to actively strengthen 'Raum Edition', a shop format that allows customers to explore multiple brands in one place.
LF's footwear business manager Choi Yun-hyeong said, "LF is nimbly responding to market changes by building a wide brand portfolio that encompasses all genders and ages in the footwear fashion, which has become a major part of fashion. This year, we will continue to lead the market by discovering new brands and products that are ahead of the ever-changing fashion trends and increasing points of contact online and offline," he said.
