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TheNature Holdings to distribute Brompton bikes in South Korea, targets 70 billion won sales by 2030
🇰🇷 South Korea /Economy & Trade

TheNature Holdings to distribute Brompton bikes in South Korea, targets 70 billion won sales by 2030

From Dong-A Ilbo · () Korean

Translated from Korean, summarized and contextualized by DistantNews.

At a glance

News Sources not specified Context piece
  • TheNature Holdings has become the official distributor for Brompton bicycles in South Korea, expanding its partnership with the premium folding bike brand.
  • The company aims to achieve 70 billion won in Brompton brand sales by 2030, leveraging its existing apparel business.
  • The partnership includes exclusive distribution of bikes, parts, and accessories, with plans for official A/S services and expanding retail presence.

TheNature Holdings is significantly expanding its business relationship with the premium British folding bicycle brand Brompton, taking on the role of its official bicycle distributor in South Korea. This move builds upon the company's existing success with Brompton London Apparel, launched globally for the first time in Korea in 2023.

Brompton is starting a new chapter in Korea with TheNature Holdings.

— Yoo Seung-yoonTheNature Holdings Executive Director on the expanded partnership.

The new agreement, effective from September of this year until December 31, 2031, grants TheNature Holdings exclusive rights to distribute and sell Brompton bicycles, official parts, and accessories. The company has projected an initial investment of 25.2 billion won, covering the minimum order quantity for bicycles. Furthermore, TheNature Holdings plans to broaden its business scope to include official after-sales (A/S) services, aiming to provide a comprehensive customer experience.

With this expanded partnership, TheNature Holdings aims to elevate Brompton into a comprehensive mobility lifestyle brand. The strategy involves increasing the number of flagship stores from the current few to 10-15 new locations, primarily in key areas like the Seoul metropolitan region, and growing the total number of retail outlets to between 50 and 60. Online sales channels will also be strengthened through enhancements to their own e-commerce platform and partnerships with major online retailers like Musinsa.

The most important thing in business is ultimately risk management.

— Will Butler-AdamsBrompton CEO explaining the choice of TheNature Holdings as a partner.

The company has set an ambitious target of 70 billion won in Brompton brand sales by 2030, with bicycles expected to account for 30% of that figure. Brompton's CEO, Will Butler-Adams, expressed confidence in TheNature Holdings, citing their effective strategies in the apparel market and their ability to navigate the fast-paced South Korean consumer landscape. He noted that while 90% of South Koreans can ride a bike, only about 5% ride regularly, indicating significant potential for market expansion.

The running market has grown to 1 trillion won, and we believe the riding market will grow just as much.

— Yoo Seung-yoonTheNature Holdings Executive Director expressing confidence in the mobility market's growth.
DistantNews Editorial

Originally published by Dong-A Ilbo in Korean. Translated, summarized, and contextualized by our editorial team with added local perspective. Read our editorial standards.

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