Naver's (035420.KS) fashion brand service KNOCKIT, launched in April, is growing rapidly among shoppers in their 20s and 30s and is now holding its first large-scale discount event.
Naver said Wednesday it will run KNOCKDOWN, KNOCKIT's first fashion Black Friday event, through Nov. 21. The event features popular brands including Pottery, IL CORSO and Matin Kim, offering discounts of up to 80 percent through promotions such as a "24-hour special sale."
KNOCKIT is a contemporary fashion service Naver introduced to strengthen its focus on the latest fashion trends and taste-based curation. In the two months following its launch, transaction value for participating brands rose 60 percent from a year earlier. In particular, transaction value among users in their 20s, who are sensitive to fashion trends, roughly doubled over the same period.
Naver believes trend-oriented curation features, such as "Items Trending Now" and "Spotlight Ranking," which shows popular products by age group, have driven user response. In the third quarter of this year, the company plans to expand personalized pages that more precisely connect user information and shopping data with fashion trends and tastes.
As growth continues, centered on users in their 20s and 30s, the number of participating brands is also rising. With contemporary brands such as R2W and Muscent joining, the number of participating brands increased 30 percent from the time of launch within two months of opening.
During this event, designer brand Gondrin, which has drawn attention among female users in their 20s and 30s, has newly joined. Global brand Lacoste is also offering discounted products for its season-off sale.
Each day during the event, first-come, first-served coupons offering up to 20 percent off are provided at midnight. Naver Plus Membership members can receive coupons of up to 30 percent off and 10 percent in reward points.
