To receive the Vogue Business newsletter, sign up here.
This story is part of Next in Asia, a series exploring the impact of technological and economic transformations across Asia-Pacific and the influence on local style, community and culture. Read part one on the enduring appeal of Japan's luxury market, here.
Few Korean fashion labels have succeeded in winning over domestic stockists as well as international retailers. Andersson Bell, the Seoul-based brand founded in 2014 by Dohun Kim, is celebrating such a feat as it approaches its 10-year anniversary. Now, the brand is gearing up to present its first runway show at the Spring/Summer 2024 edition of Milan Fashion Week (MFW) Men’s on 18 June, as it looks to expand further globally.
Speaking with Vogue Business ahead of the show, Kim describes Andersson Bell’s journey to date as a “preparation period”. “Now, I truly believe that I can excel in the fashion industry,” he says.
While many of the Korean diaspora may now see the culture they grew up with — also known as Hallyu, or “Korean Wave” — celebrated internationally, truly global fashion exports from the country have dropped off in recent years. The most notable to make it internationally are years into their trajectories: Gentle Monster — the eyewear brand founded by Jay Oh and Hankook Kim in Seoul in 2011 and backed by LVMH's private equity arm since 2017 — and Wooyoungmi, the menswear label launched in Paris by designer Youngmi Woo in 2002. Korean labels including Ader Error, which collaborated with Zara in 2021 and 2022, and Post Archive Faction, loved by rappers like A$AP Rocky and Central Cee, are starting to make waves overseas, but aren’t found in local boutiques, which tend to sell easier-to-wear brands such as Kijin and The Open Product.
The tide may be turning as South Korea follows in the footsteps of Japan, whose economy — as well as its brands — have benefitted from the cultural sway that has captivated global audiences over the past two to three decades. South Korea took 12th place among the 19 members of the G20 for GDP growth in 2022. A bustling public transportation system, increased tourism and growing English literacy levels all point to economic prosperity.
Against this backdrop, Andersson Bell is well placed to thrive. Fuelling the label is a distribution support from Tomorrow, a fashion group and incubator that also works with Martine Rose and Charles Jeffrey among others, an ongoing collaboration with buzzy sneaker label Asics since 2021 and its first on-schedule show in a main fashion capital. Andersson Bell has been profitable since launch and brings in $15 million in annual revenues. Kim says growth was “significant” in 2022.
The Milan show will be held at Società del Giardino, a historic building that serves as a social club for prominent figures, and can accommodate up to 350 guests. The venue was appealing for its intimacy, says Kim. “The emphasis is not on a large scale but on a classic and exciting venue that can contrast with our looks.” Denim and military are core to the collection. “It evokes memories of my childhood when I used to seek out vintage denim and military wear. I want to present looks that can be easily worn in everyday life.” The brand will also debut a new bag style, Vaso (strengthening its accessories range is a new focus, he says).
While South Korea’s growing prosperity is a factor, credit should also be given to Andersson Bell's unique point of view. The brand stands out locally because it doesn’t ascribe to the 애교 (aegyo) or cutesy aesthetic that has long been prevalent in South Korea. It also stands out internationally by not following trends. Instead, its pieces, such as a patchwork, asymmetrical skirt or a crinkle tee with a David film print, nod to an amalgamation of Korean street style with a minimalist Scandinavian attitude.
Andersson Bell has “a very clear design language”, as well as “great fit, very strong price points and a real quality to all that they make”, says Kelly Sierra, senior director of sales and business development at Tomorrow, which has worked with the Korean label since Autumn/Winter 2021. “Their knitwear in particular has always been a best-selling category.” She sees an opportunity for Andersson Bell’s business to grow in key product categories, such as knitwear, denim and tailoring, across markets including the US, China and Europe.
Multi-fold goals in Milan
Over the last three to four years, Andersson Bell has presented designs to buyers via a showroom in Milan. Kim says Paris — typically fashion’s top choice — has “an overwhelming concentration of designer brands”, making it harder to stand out. The label’s 10-year milestone this year felt like an apt time to stage a runway, he explains, even though it cost “a significant amount”, with a majority of expenses going towards venue rental and show production.
There’s good reason for the label to stage its first overseas show in Milan, says Tomorrow’s Sierra. She argues that the city is ideal for “firmly positioning the brand on the men’s fashion week scene in front of key audiences, as well as global visibility via associated media coverage and exposure”. Andersson Bell has also invested in marketing, such as a takeover of the city’s trams, which will feature its campaigns as it runs through key shopping areas, as well as other localised activations to engage with new audiences during fashion week, she says.
The Spring/Summer 2024 edition of Seoul Fashion Week will take place in September, with the goal of creating more buzz among international creatives and buyers in town for the city’s new international art fair.
Kim founded Andersson Bell in 2014 after visiting Stockholm, his first time in Europe. Its name — the first word representing a typical Swedish surname and the second referring to a traditional Korean temple bell — symbolises the merging of two cultures. The brand took off in 2017 when Barneys New York, the high-end retailer known for spotlighting emerging brands until it shut its doors in February 2020, became its first global stockist.
Today, the brand has three direct physical retail channels — its recently opened flagship store in Seoul, and two shop-in-shops at The Hyundai Seoul and Galleria department stores — which collectively account for 60 per cent of sales (the rest comes from wholesale). Stockists include local boutiques such as 8Division and Empty, operated by Korean commerce giant Musinsa, as well as international retailers like Net-a-Porter, Ssense and End Clothing. It is present in 140 markets globally.
The goal of the MFW show is multi-fold, explains Kim. The primary objective is to increase online sales, but he hopes the process will also help expand the internal team’s experience. Despite the high costs, he plans to continue staging runway shows within the main fashion week calendar as it will get “more and more people to know Andersson Bell”. A slow and steady mindset is key, Kim believes. “Korea is receiving global attention; it used to be very difficult to gain recognition. My motto since I was young is to take one step forward every day and never stop. I believe that if I continue steadily rather than rushing, I will eventually reach my goals.”
Achieving longevity
Kim is wary that 2023’s tumultuous macro-environmental conditions will impact the business, as it will brands of all sizes globally. The strength of Andersson Bell’s direct channels could help see it through tougher times. In October, it unveiled a new flagship store in Anguk-dong next to Seoul’s historical Gyeongbokgung palace and close to the Bukchon Hanok Village. “I wanted to show our DNA more to those that visited [and] I believed in having a store with a modern concept in the most traditional town.”
The brand’s first store was previously located south of the river, in Gangnam, the young trendy neighbourhood that first captured worldwide interest thanks to the hit K-pop song “Gangnam Style”. But, as global interest in Korea grows, and more young Koreans also return from living abroad, local creatives see new value in the preservation of the country’s history and traditions. That has also prompted a shift among local brands, including Sulwhasoo, owned by Korean beauty giant Amorepacific, as well as global luxury companies like Chanel and Valentino, to move their stores or offices north of the river, to neighbourhoods associated with traditional culture.
Kim’s ambition is for the brand to last, even if the current spotlight on South Korea moves on elsewhere. “I aspire for Andersson Bell to be a brand that represents Korea [and to also] be globally loved over the span of several decades.” He’s looking at the luxury resale market as a key indicator of what that could look like. Perhaps, “in 10 or 20 years, archive pieces [from the brand] would be bought and sold at prices higher than their original retail price”, he muses.
Looking ahead, Andersson Bell could also expand further into brick-and-mortar retail, says Tomorrow’s Sierra. A paved courtyard and constantly evolving foyer makes the flagship an appealing place to spend time beyond just buying clothes — a new focal point for retail globally. There are also opportunities to partner with top wholesale partners on pop-ups and more in-store activations to engage consumers, as well as work on collaborations to introduce new customers to the brand, much like the ongoing three-year tie-up with Asics has done, she adds.
Andersson Bell’s holistic approach is what sets it apart and will keep it relevant in the long run, Kim believes. “[We] create interesting clothes that can be worn everyday. Adhering to one style and producing new collections every season has not been my style from the beginning. It appears as a well-balanced brand, don’t you think?” With a stage ready in Milan, the brand is ready for its next chapter, he says. “With the show as a starting point, it feels like we’re starting fresh.”
Key takeaway: Even as worldwide fervour for Korean culture grows, there hasn’t been a truly global fashion export from the country since Gentle Monster and Wooyoungmi — both of which came to market more than a decade ago. Breakout fashion label Andersson Bell, which is gearing up to present its first runway show outside of South Korea at Milan Fashion Week Men’s this Sunday, may be well placed to ride the country’s soft power to global success. As it ramps up its retail and marketing activations, the challenge will be managing its balance sheet and staying relevant, even if the luxury spotlight moves on from South Korea.
Comments, questions or feedback? Email us at feedback@voguebusiness.com.
More from this author:
Chanel and Marni eye Japan’s luxury market, where offline is king
Seoul Fashion Week moves to September to coincide with Frieze