Black Yak takes over US fashion brand Nau

By Park Si-soo

Black Yak CEO Kang Tae-sun

Major Korean outdoor clothing company Black Yak has taken over U.S. fashion brand Nau, the firm said Tuesday.

The $15-million deal was part of its ambitious efforts to have a business presence in the United States, said Black Yak CEO Kang Tae-sun.

The Seoul-based company already has many sales outlets in China, Nepal, Thailand, Taiwan, Germany, Switzerland, Italy and Turkey.

“This year marks Black Yak’s 42nd anniversary. I think the time has come for us to venture off home turf and compete in cold and merciless overseas markets,” Kang told reporters at the firm’s headquarters in Yangjae-dong, southern Seoul. “We will take the very first step this year to make Black Yak a global brand.”

He said Nau will play a “pivotal role” in reaching the firm’s ultimate goal of becoming one of the world’s top five outdoor clothing brands.

Kang Jun-suk, the CEO’s only son, is responsible for mapping out the firm’s globalization strategy. The 34-year-old general manager of Black Yak’s global team, who studied at the University of Wisconsin-Madison, is known to have played a leading role in handling the company’s takeover of the U.S. brand.

“Each market has different trends and customer needs. So we will go global with products localized to each market,” he said.

For American customers, he said, the firm plan to develop outfits and shoes suitable for casual outdoor activities, while trying to improve overall quality and function for European customers.

In Asia, he said, the company will maintain its current strategy, while strengthening its pan-Asian presence by expanding into new countries. Black Yak plans to open outlets in Japan, Hong Kong and Singapore this year.

“A true venture begins from the end of a road,” CEO Kang said. “Some may say we have grown stably while traveling through a well-paved road. Whether it’s true or not, our true venture has just begun.”

Established in 1973, Black Yak has grown rapidly in recent years with climbing and outdoor activity products whose designs were inspired by black-haired yaks found in the Himalayas. The company earned 670 billion won ($618 million) in sales in 2013, the latest data available, up from 510 billion won in 2012.