Men's suits & women's formal wear sales improves

20 Nov '07

1 min read

As Korean consumers become increasingly optimistic about the economy, department store sales posted the 3rd straight increase in August. According to Ministry of Commerce, Industry and Energy, total sales at the three major department stores in Korea jumped solidly year-on-year in August.

In contrast, total sales at the three largest discount stores in Korea fell moderately in August compared to a year before.

Consumer purchases of apparel products also started to show a long-awaited recovery. Apparel retailers also reported improved sales in September, likely as a result of sales promotions and seasonal market demand.

Men's suits and women's formal wear sales improved on the previous year and knitwear and casual wear also appeared to be positive.

While retail apparel demand indicators for wool are turning positive, domestic wool pipeline activities in Korea have been increasingly affected by the competition from lower-cost overseas resources.

Raw wool and wool top imports to Korea fell solidly year-on-year in the first half of this year while wool apparel product imports grew compared to the year earlier, recording a historical high for the first half of the year.

Australian Wool Innovation Limited

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