FILA aims to win back fans with big changes
“No fashion brand survives without a change and we instinctively felt this is the right time for innovation,” said Kim Jin-myun, CEO and President of FILA Korea, at a brand renewal presentation held in Hanil Logistics Center, Gayang-dong, western Seoul on Thursday.
The announcement came as the brand aims to get back into the sportswear industry’s top three and double its revenue by 2020.
This will be FILA’s first overhaul in its 23 years of business in Korea, and new management and staff have been brought on to ensure things go according to plan. From brand identity and its logo to products and the interior designs of all retail stores, the transformation is to be made company-wide.
The lineup will be focused on the so-called athleisure look that can transition from the yoga studio or track to everyday life.
The change is reflected in the company’s logo and the interior design of its shops. The company said it has upgraded its familiar logo to look more modern, appearing only in navy blue instead of its traditional tricolors. The three colors - red, white and blue - will still be used in FILA’s high-end or limited-edition products.
The first newly designed space can be seen at Lotte Department Store’s main branch in central Seoul.
To appeal more to younger customers FILA is planning on opening a flagship store in Itaewon by May 2016.
“It’s inevitable that brands age when they’re around for decades, and that happened for this brand too,” said Jung Ku-ho, the new creative director and vice president of FILA who is also in charge of the transformation. “But it’s a matter of whether you effectively tackle the issue or not. Some stay and see the brand decline, some innovate and see it rebound.”
FILA first started business in Italy in 1911, and launched its corporation FILA Korea in 1992. In 2007, FILA Korea acquired the global business license and became the headquarters to the company which does business in over 70 countries.
BY KIM JEE-HEE, PARK EUN-JEE [firstname.lastname@example.org]