Singapore (Tuesday, 18 June 2024) – A recent report by Canvas8, a global strategic insights practice renowned for expertise in cultural and behavioral trends, reveals how South Korea’s vibrant fashion scene is captivating global audiences, propelled by the enduring influence of Hallyu, the ‘Korean Wave.’
The report, titled ‘South Korean style is going global. What do locals think is cool?’ and authored by Felicia Melody, includes insights from social media specialist Thufailah Hidemi and fashion journalist and stylist Vanya Harapan. It highlights that Korean style transcends a singular stereotype, offering a diverse spectrum of aesthetics from edgy streetwear to luxurious ensembles. This dynamic fusion of tradition and innovation is reshaping global fashion trends.
Fashion journalist Vanya Harapan emphasizes the subjectivity of ‘what’s popular in Korea,’ which varies based on individual media consumption. This versatility and fearlessness in embracing new trends have driven South Korea’s fashion market to phenomenal heights. The market is projected to reach sales of $21.01 billion in 2024, with over 30 million fashion shoppers expected by 2029.
One distinctive trend gaining international traction is ‘acubi’ fashion, a contemporary reimagining of Y2K style pioneered by the Acubi Club. Despite the prominence of streetwear, luxury fashion remains robust in Korea, with even non-wealthy demographics embracing luxury goods, reflecting a cultural emphasis on social status.
The emergence of streetwear as a countercultural movement has integrated it into luxury markets, birthing the concept of ‘luxury streetwear.’ This fusion challenges traditional fashion norms and fosters immersive experiences for consumers.
In the realm of workwear, South Korea’s demanding work culture has driven innovation in office attire. Brands like ADERERROR, AMOMENTO, and LOW CLASSIC are leading this trend. The pandemic-induced shift to remote work has blurred the lines between professional and casual attire, giving rise to street-meets-office fashion.
Thufailah Hidemi, a social media specialist at Private Eyes, a curated second-hand designer boutique, notes, “The stark contrast between ‘work from home’ and ‘corporate job’ attire has sparked a rebellion against rigid dress codes. Additionally, as people venture outside more after a prolonged period of isolation, they seek ways to express themselves, often translating this expression into their workwear.”
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South Koreans’ affinity for futurism extends beyond fashion aesthetics to embrace technological innovation. This trend is driving the evolution of Korean textile industries through fashion tech startups and advanced production processes.
Fandom culture also plays a pivotal role in Korean fashion, with consumers gravitating towards brands associated with their favorite celebrities. Brands are capitalizing on this phenomenon by crafting collections tailored to existing fandoms, further driving the global appeal of Korean fashion.
To showcase homegrown talent on the global stage, South Korean retailer Hyundai Department Store has launched Hyundai Global, a platform aimed at promoting Korean fashion brands internationally. This initiative seeks to overcome financial barriers and facilitate the global expansion of Korean fashion.
Nick Morris, UK-based founder and Managing Director of Canvas8, stated, “As the fashion industry evolves, maintaining authenticity while adapting to emerging trends will be crucial for sustaining relevance. With South Korean fashion poised for global dominance, the world eagerly awaits the next chapter in its sartorial journey.”
For those interested in delving deeper into the story with original quotes and a Q&A session with the report authors, please contact Danny Chaplin at Chaplin Public Relations.
About Canvas8
Canvas8 is a global strategic insights practice operating out of London, Los Angeles, New York, and Singapore. Since 2008, they have helped organizations grow through a better understanding of people, focusing on media, communications, and product development. Their award-winning insights inspire clients including Google, Mindshare, Molson Coors, The North Face, Mars, Nike, and Logitech. For more information, visit Canvas8.
