2015 : opened LOTTE Dept store, in chengdu, china/ YANSHA Dept store in Cuiwei,
Beijing, china / Flagship store in cheongdam, Korea
2014 : opened Lotte duty-free shop in Myeongdong, Korea and Launched at secoo,
the biggest luxury boutique mall in china
2013 : Opened HYUNDAI Dept store, Chunho and Jungdong, korea/ brand shop in
Beverly hills, LA Walkerhill duty-free shop in korea
2012 : January , Obtained the world’s first patent for crocodile hide processing technique
June, Applied for patent for crocodile hide processing technique in China
August, Registered “Hormiga” trademark in China
“Increasing Polarization of Consumption”
The economic downturn has given the biggest blow to the middle class,
but demands for high-priced products are still going strong, which indicates the increasing polarization of consumption in the nation.
For instance, high-priced padded coats (e.g. Moncler) in the range of 1,500 to 3,000 dollars sold out at full price,
whereas middle-priced padded coats (e.g. DKNY) in the range of 300 to 500 dollars are on huge discount sales.
“Expansion of the Korean Wave and the Advancement of Korean Brands”
The expansion of the Korean Wave has rapidly increased the awareness of Korean brands,
which are captivating American consumers with excellent quality and fast market responses.
“Increasing Demands for Super High-Priced Luxury Products”
The world’s largest market, the American market, has witnessed ongoing increase of demands for super high-priced luxury products.
European crocodile handbags have the following characteristics
· Too expensive
· Limited designs and few colors
· Six months or longer waiting time after placing an order
· Limited after-sales service
We launched the Hormiga Black Label as an alternative for European crocodile handbags.
Hormiga is the highest-grade product line that inherits and develops the uncompromising quality and craftsmanship of crocodile handbags
and has upgraded quality and practicality to a higher level.
“High class, utilitarianism”
We plan to increase the awareness of our brand as quickly as possible
by setting up boutiques at renowned department stores across the United States.
• Entering duty-free shops
– Supplying our products to duty-free shops at renowned upscale hotels and international airports
• Pioneering the Chinese market
– Opening our boutiques at luxury department stores in China, which has emerged as the world’s second largest economy
• Quickly respond to the ongoing increase of demands for crocodile handbags
• Create a new client group in young women in their thirties or forties and fashionable middle aged men
• Hormiga Black Label will evolve from a Korean luxury brand into a global luxury brand by replacing and satisfying the demands and needs of clients who are disappointed with the absurdly high prices, poor after-sales service, and limited product groups of European crocodile handbags and for those who are tired of the popular images of foreign brands.