Hi, there! Today story is "Dongdaemun" wholesale market! In other words, if you have a job related to fashion, I would like to talk about where you once heard. The Dongdaemun wholesale market is open at 9 p.m. and poeple has a career related to fashion waiting in front of Dongdaemun market for 30 minutes before starting the their business. As I mentioned earlier, many people who have a job related to fashion visit a lot, also Chinese visit a lot.
If you hear the word 'Dongdaemun Market', there are many people who think that you can buy goods cheaply. But sometimes these questions come in to me.
"Will there be a place in Korea where I can purchase more cheaply than Dongdaemun wholesale market?"
When I get the question, I answer this question. "The word 'Made in Korea' means that the product is made in Korea, so the cheapest place to buy is Dongdaemun Wholesale Market." As you may know, this is true.
I suddenly think people who have read my article will have these questions.
"Dongdaemun wholesale market is the cheapest, and then where do these korean fashion goods come from?"
I think you might be thinking of bringing it from where you can buy it at a lower price. Am I right? Until recently, I also had such suspicions before I went directly to the Dongdaemun wholesale market. Then I realized what I was looking for. My conclusion is that the suspicions are not appropriate.
As a result, I would like to say that there is no place to buy goods at a lower price than Dongdaemun wholesale market. Most of the dedicated designers are located in stores located in the Dongdaemun market, and most apparel stores have garment factories.
Therefore, I want to briefly explain the order in which korean fasion goods arrive at the Dongdaemun wholesale market.
1. Designed by a private designer, the product is manufactured at a manufacturing factory.
2. Bringing manufactured clothes to Dongdaemun wholesale market and sell.
In some cases, after designing by a good designer in Korea, the product is manufactured at an overseas factory such as China, Vietnam Etc. There can be quality check issue. So if making the product in this way, you can meet the product at a lower price.
However, after designing and making in Korea, clothes sold at Dongdaemun wholesale market are the cheapest. Does it make a sense?
Consumers are very satisfied with selling clothes at Dongdaemun wholesale market inexpensively but.. It is said that Dongdaemun wholesale market traders are having a hard time because of the situation different from the past.
The reason for this is that SPA(Speciality retailer or Private lable Apparel) brands produced clothes(UNIQLO, ZARA Etc) in large quantities and sell cheap clothes. For my case, I often buy clothes from the SPA brand.
However, SPA brand clothes after washing a few times, stretched neck, seams and popping, such as the appearance is not good. So sometimes I regret later, but because I know it is inexpensive, I buy it.
As a result, the Dongdaemun market has been deprived of a lot of sales by SPA brands due to the low price, so the situation in the Dongdaemun wholesale market is not as good as before. Simply put, they say that there is no Chinese people looking for Dongdaemun market products, the Dongdaemun market will be gone.
When the opening hours of the Dongdaemun market are approaching, the time is running out. On average, business hours start at 9:15 p.m 2:00 ~ 3:00 a.m.
I hope that my article will help you a little and thank you for reading my article so far. If you have any queries about Dongdaemin or Korean fashion, feel free to ask me! :)
DongWon KWAK. Korea Venture Capital and Startup Expert.