SJ Group Credits BTS’s V’s Midas Touch For Helping Sales For Hat Brand KANGOL During COVID-19 Crisis
It’s no secret that the COVID-19 crisis put many industries on hold. The live events industry alone put thousands out of work as concerts and tours were cancelled. Charitable kings, BTS even donated an astounding $1 million USD in conjunction with Big Hit Entertainment to Crew Nation to help those put out of jobs.
The fashion industry was no different as the pandemic took a hefty toll. Even though there was a huge spike in online shopping sales for the new telecommuting way of life, the sales weren’t enough to make up for the hit on the global economy and fashion industry as a whole.
One of the companies who felt the pressures of the pandemic is Korean parent company SJ Group, who brought the British brand KANGOL to South Korea back in 2008.
KANGOL has always been a brand favorite of BTS members like Jimin and V. The impact Jimin had on KANGOL’s sales was enough that SJ Group’s CEO mentioned Jimin by name during their company-wide conference back in 2019.
We’re known to be a brand that doesn’t have to sponsor celebrities because they will wear our products on their own. Recently, BTS’s Jimin has been wearing a lot of KANGOL hats and keeping us trending.
— Lee Ju Young, SJ Group CEO
Of course as the COVID-19 pandemic swept across the globe, many companies felt the weight financially.
BTS released their music video for their first all english track “Dynamite” on August 20th of 2020, in the midst of the pandemic in hopes of brightening up people’s days.
PARK JIMIN DYNAMITE MV OUTFITS#JIMIN #BTS_Dynamite @BTS_twt pic.twitter.com/cJyJTcfTwG
— Bangtan Style⁷ (@Bangtan_Style07) August 22, 2020
BTS’s outfits are always a hot topic, so much so that ARMYs have big name “BTS Style” accounts on Twitter and Instagram that share exactly what BTS wore on any given occasion. User @Bangtan_Style07 on Twitter boasts over 300,000 followers who look to them to see what brands and styles BTS wear.
The “Dynamite” music video was no exception as the boys’ fun, colorful concept was an eye catching theme throughout. Their “Dynamite” outfits even sold at a charity auction for a whopping $162,500 USD!
One member in particular however had ARMYs grabbing their credit cards. The baby blue KANGOL beret worn by V in the music video was a hot topic. So much so that Korean media reports that SJ Group made an “economic save despite the difficulties they faced during the COVID-19 crisis.”
The Financial Investment Industry reported that SJ Group is expected to make ₩147 billion KRW (about $124 million USD) in sales which is up 37% from the previous year, and ₩27.8 billion KRW (about $23.5 million USD) in operating profit which is a 55% increase over the same period.
South Korea’s increasing street fashion trends during COVID-19 benefitted KANGOL, especially after BTS’s inclusion of them in their “Dynamite” music video.
They are expected to see an increase in sales by 24% compared to the previous year to about ₩85.0 billion KRW (about $71.7 million USD) this year.
SJ Group attributes BTS as one of the reasons why KANGOL has successfully made a name for themselves as one of the top streetwear brands for the MZ Generation.
Are we surprised? BTS has been known to sell out items, no matter the price or significance, countless times!
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