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Denim will never go out of style, but most consumers seem to have had enough of overpriced designer jeans that cost as much, if not more, than a netbook or an iPhone.
The recent economic crisis pulled down the price of jeans from as much as $600 to more reasonable levels of around $100.
Truck Jeans, owned by Korean-American businessman Alex Chang, is now entering the Korean market offering denim jeans in the 110,000 to 150,000 won range.
``Prices in the premium denim market in Korea are going down. The price of Truck Jeans is lower, so I think this is the right time to enter the market,’’ Chang said, during an interview with The Korea Times at a coffee shop in Garosu-gil, southern Seoul.
Chang noted the premium denim market hit its peak four years ago, with fashion brands coming out with $500 to $600 jeans. ``With the economic crisis, the premium denim market has decreased more than 70 to 80 percent in the last four to five years. Now, after the bubble burst, $100 to $150 jeans are on the rise,’’ he added.
Truck Jeans is hoping to get a slice of the denim market in Korea. The company is upgrading their image, targeting young women in their 20s and 30s, compared to its U.S. target market of teens.
With the tagline ``original American ride,’’ Truck Jeans offers trendy styles and distinctive designs on the back pocket that resemble the grills of an antique truck. Also, Truck Jeans is manufactured in Los Angeles, unlike other denim brands that outsource their production to China or other Asian countries.
For the Korean market, Chang is introducing jeans in different styles and materials, which is why the price points are higher compared to the U.S. where it is sold for $49 to $59 in Delia’s, Alloy and Nordstrom stores. It is currently available at the denim bar in Hyundai Department Store COEX and on the websites Wizwid and Enjoy New York.
``In order for us to enter the Korean market with authentic American denim at the most appealing and appropriate price range, I keep persistence in the old ways of manufacturing and eliminate in-between margins to deliver the most recently widespread concept of a specialty store with factory outlet prices,’’ he said.
It was Chang’s love of denim that prompted him to start his own business, although he initially had a computer game software business when he moved to the U.S. in 1992.
After it went under, he decided to start a company called Blue Jade in 1997 in Los Angeles, inspired by his sister-in-law’s successful denim manufacturing company.
Initially, Blue Jade manufactured premium denim jeans for brands such as BCBG, Max Azria, St. John Sport, Billabong and Frankie B. It was a tough time for Chang, who had to learn about denim manufacturing, running a business, dealing with corporate customers and even a new language, Spanish, to be able to communicate with his workers.
After five years, Chang felt he knew enough about the denim business to launch his own denim jeans brand.
``I really love denim,’’ he said, with a smile. ``But I didn’t have money or connections, but I knew I wanted to have my own brand... Then I met (teen apparel company) Alloy’s CEO, who said `if you do all your manufacturing in the U.S., I can fight for you.’ And that’s how I started,’’ he said.
Truck Jeans was born in 2001, named after Chang’s fascination with antique trucks and Alloy began distributing Truck Jeans. In 2004, he launched a high-end denim line D-Core, and a premium denim line Co-people. At the same time, the company continues to manufacture private label jeans for other brands.
Chang, who has lived in the U.S. for 19 years, returns to Seoul every few months to promote Truck Jeans. He has high hopes for his brand’s success in the Korean market. ``I wanted to come back to my homeland and build up my brand here. I want to show off my expertise in denim in Korea and show them what American jeans are all about,’’ he said.
cathy@koreatimes.co.kr
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