This year, IICOMBINED, the parent company of Gentle Monster, a well-known eyewear brand worldwide, made a record-setting purchase in South Korea. The luxurious property, situated in Sinsa-dong, Gangnam-gu, Seoul, was bought for an astounding 28.5 billion KRW (equivalent to 22.3 million USD) in a cash-only deal, demonstrating the organization’s strong financial position and strategic expansion.
According to reports, the success of Gentle Monster can be attributed to BLACKPINK’s Jennie, whose partnership with the brand greatly bolstered its international standing. Jennie’s affiliation with the brand, including the nickname “Jennie’s Sunglasses”given to the sunglasses, catapulted Gentle Monster into the international limelight.
The rapid growth of IICOMBINED is also demonstrated through their recent real estate developments. In addition to their recent acquisition, the company invested 34 billion KRW (approximately 24.5 million USD) in November to build a commercial and office complex at the same site. These calculated investments showcase the company’s strong expansion and strong foothold in the market.
Since its establishment in 2011, IICOMBINED has expanded its range of brands to include Tamburins in the cosmetics sector and Nudake in the dessert industry. As a result, the company recorded a total revenue of 608.27 billion KRW and an operating profit of 151.11 billion KRW in the previous year. The collaboration between Jennie and Gentle Monster has played a crucial role in maintaining the company’s success, highlighting the significant influence of celebrity partnerships in the fashion world.
K Crush
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