SEOUL, KOREA - E-Land Group succeeded in joining the 10-trillion-won annual sales club, in 33 years after its chairman Park Sung-Soo opened a small clothing shop in downtown Seoul in 1980.The company announced on December 11 that it expects to post sales of 10.4 trillion won and an operating profit of 600 billion won this year.
Thanks to its aggressive marketing, including the expansion of private labels and fast fashion brands, plus the increase in the number of its small- and medium-sized stores, its sales will likely to increase by 9 percent in 2013 compared to a year ago.
In addition, E-Land Group expects its operating profit for this year to increase by 27 percent year on year on the back of a decline in production cost, caused by its relocation of production bases from China to Vietnam, Sri Lanka, and Myanmar.
E-Land Group’s overseas sales are estimated to reach 3.1 trillion won this year. Of the total, 2 trillion won sales will be registered in the Chinese market.
