– Signed a contract with China Huanshi Xingyun and started selling on Tmall, etc.… Also entered the Southeast Asian market through Shopee
-Business agreement with Japan's Itochu Corporation to enter Loft Department Store, etc.… Japanese official online mall to open
-Pillowdi is popular in Taiwan, selling over 15,000 copies in just one year
-Coversummon “We will create a long-term growth structure such as B2B2C advancement based on global supply chain capabilities”
Lifestyle fashion tech company Coversummon (CVSM, CEO Jaeho Lee) announced on the 24th that it is accelerating its full-scale global market expansion by entering three major Asian markets: China, Japan, and Taiwan.
Recently, CoverSurman signed a contract with local Chinese distributor Huanxi Xingyun (欢禧行运 品牌管理有限公司) and began selling products on local e-commerce platforms such as Tmall, Xiaohongshu, and Douyin, announcing its entry into the Chinese market. In the first half of this year, it plans to expand brand awareness by carrying out marketing using local influencers.
In addition, Coversummon established online channels in three Southeast Asian countries, including Singapore, Malaysia, and Thailand, through Shopee, the largest e-commerce platform in Southeast Asia.
In addition, Coversummon signed a business agreement with Japanese general trading company Itochu Corporation (伊藤忠商事) and is promoting joint development of materials and global distribution cooperation, and has been selling products through major channels such as Japan's ANA airline mall and LOFT department store since last year. Kik's official Japanese online mall is also scheduled to open at the end of this month.
Cover Summon's entry into the Asian market began in Taiwan, where there is a high interest in K-content. In the second half of 2023, the company signed a distribution contract with LIHO International, a specialized trading company designated by the Ministry of Trade, Industry and Energy, and began distribution in Taiwan. In about a year, the cumulative sales of 'Pillowdy', a combination of a pillow and a hood, exceeded 15,000 units.
Coversummon, founded in 2017, presents functional clothing that combines technology and fashion based on eco-friendly fiber material technology that utilizes natural elements such as air, heat, and light. It operates its own material and component brand 'CVSM' and lifestyle tech brand 'KEEK' together, and is expanding its overseas market with a B2B2C strategy that links material supply (B2B) and product distribution (B2C).
Coversummon CEO Lee Jae-ho said, “We are advancing the B2B2C model based on market-specific partnerships and sales strategies, and realizing joint expansion of our brand and technology,” adding, “We will create a long-term growth structure beyond Asia based on sustainable material technology and global supply chain capabilities.”
Meanwhile, Coversummon plans to expand offline contact points for tourists visiting Korea by opening a flagship store in Hannam-dong, Seoul, and entering duty-free shops in Korea during the first half of this year.
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