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September in Seoul has historically been quiet for fashion as editors, buyers and influencers flock to New York, London, Milan and Paris. But this year, the South Korean capital is abuzz with energy thanks to the convergence of Seoul Fashion Week and Frieze Seoul for the first time. Hoping to capitalise on heightened interest, Korean fashion brand We11done is returning home to present its Spring/Summer 2024 collection in Seoul after several seasons showing in Paris pre-pandemic.
The off-schedule show will take place on Thursday evening at the K-Pop Square in Coex, a landmark of Korean pop culture in the heart of the Gangnam district, where Frieze Seoul is also being held. The collection, which pays homage to co-founder and creative director Jessica Jung’s idea of “home and memories”, will be streamed live on a 3D LED screen above the catwalk for members of the public to see.
We11done’s chief operating officer Sang Mo Kim describes the event as “a comeback show” as it marks the brand’s first physical catwalk post-lockdown (it previously held a slot on the Paris Fashion Week Men’s calendar). “Many people have told us to do something here because we’re a Korean brand,” he tells Vogue Business from the brand’s headquarters in Apgujeong Rodeo. However, We11done has notoriously sought to disassociate itself with other Korean fashion labels that tend to reflect the nation’s more commercially cutesy aesthetic, which makes its decision to show during Seoul Fashion Week all the more surprising.
Frieze Seoul, which takes place for the second time following a successful debut last year, was the main draw, says Kim. “[Showing] during the same week gives us an opportunity to interact with the international art scene [and reflects] our founders’ art-inspired expressions through their works of fashion [the brand was founded in 2015 by friends Jessica Jung and Dami Kwon].” All eyes have been on Seoul since big luxury brands including Louis Vuitton and Gucci staged shows in the city, adds We11done brand manager and art director Youngjin Kim. “We want to increase the attention from the world on Korea. Everyone is watching, so now is the right time for us.”
An international outlook
Jung and Kwon — who also founded former Korean multi-brand fashion boutique Rare Market — have built We11done’s reputation for easy-wearing silhouettes, elegant tailoring and reworked staples inspired by the late-1990s and early-2000s fashion. It stood out by taking a firm gender-neutral stance, despite Korean society’s largely conservative views. In 2020, the brand presented its first show during Paris Fashion Week Men’s. It has since won over celebrity fans including musicians Justin Bieber and Central Cee, and counts 70-80 global stockists including Ssense — its biggest retail partner — Luisaviaroma and Lane Crawford.
E-commerce retailer Ssense was attracted to We11done because of its shared synergies, says Federico Barassi, vice president of menswear at Ssense. “We both share a mission to redefine contemporary notions of luxury.” He adds that both have a shared customer base who is largely Gen Z and millennial. “It’s someone who appreciates versatile modern streetwear and structured tailoring. With their oversized silhouettes and prominently unisex styles, We11done has the ability to cast a wide net that appeals to customers globally.” Among the top-selling We11done styles on Ssense are graphic T-shirts, faded and distressed hoodies, oversized blazers and denim jackets.
The pandemic brought all physical events to a halt, and We11done has not returned to Paris since. It’s unclear whether the brand will return next season, but Jung and Kwon’s international ambitions makes it unlikely to continue showing in South Korea long-term. For now, a well-timed show in Seoul can help We11done continue to build on its brand image. The front row this evening is expected to be packed with South Korean stars, including Kwon’s brother, rapper G-Dragon, and husband, actor Min Jun Kim. Also in attendance will be model and actor Soo Hyuk Lee; The Boyz singer Juyeon; rappers Sik-K and Loco; singer Na Young Kim; and influencer and model Irene Kim.
Stars aside, don’t expect the show to be a local affair. The brand is flying in international models and creative talent, including London-based casting director Shelley Durkan, whose clients include Versace, Louis Vuitton and Acne Studios; Brooklyn-based hair stylist Holli Smith, who works with Miu Miu, Blumarine and Boss; and Paris-based makeup artist Karin Westerlund, whose clients include Saint Laurent and Max Mara.
It’s a continuation of We11done’s international outlook and approach, says Kim. In a bid to appear more sophisticated and cosmopolitan, the brand invests heavily in global talent to work on its marketing and campaigns. Its Autumn/Winter 2023 advertising, for example, features supermodel Mariacarla Boscono, photographed by Willy Vanderperre and styled by Olivier Rizzo. “We [work with] experienced people who are at the top level internationally. Our standard is different to other Korean brands,” says Kim.
The China opportunity
We11done’s insouciant edge and coolness and philosophical approach to fashion has captivated China, the brand’s biggest market, and home to its investor, venture capital firm Sequoia Capital China, which took an undisclosed majority stake in January 2022. At the time, venture partner Angelica Cheung, who formerly worked for Vogue China as founding editor-in-chief, expressed her belief that We11done would be China’s next direct-to-consumer success story, thanks to its distinct vision, solid wholesale business and loyal following. Its popularity has continued to soar in China since then, amid interest in hallyu or the “Korean wave” — a term used to describe interest in Korean culture. With 30 per cent year-on-year sales growth annually, the brand is targeting $100 million in sales for 2024, says Kim, and China will play an important part.
Top-tier celebrity endorsements have been a real boon to We11done’s business, observes Jasmine Zhu, managing partner of Epico Partners, a Hong Kong-based growth consultancy. “The brand is extremely marketable in China due to the founder’s association with K-pop and Korean pop star G-Dragon [Kwon’s brother] and also has an immediately recognisable brand identity that mixes youth culture codes from Asia, streetwear identity front the US and avant-garde fashion from Europe. It is to some extent being recognised as the “Balenciaga of Korea”. Zhu adds: “Overall, unisex appeal and limited supply help to strengthen We11done’s positioning in China as the ‘It’ brand.”
Going forward, We11done will need to ensure it maintains a high quality of product and manage the growing number of counterfeits, which affects many popular streetwear brands across China as they’re more easily copied, Zhu says. Also blocking We11done’s way is tough competition from China’s fast-growing market of homegrown fashion brands. Convincing price-conscious shoppers across Asia — who generally aren’t used to high price points from domestic labels — to splurge on its products also isn’t easy.
Despite longstanding tensions between Korea and China, K-pop’s influence persists, although Korean brands will have to contend with the rise of Chinese nationalism and navigate an increasingly crowded market of homegrown fashion brands, which are increasingly teaming up with high-profile international talents to elevate their offering. Chinese apparel giant Peacebird works with the likes of photographer Josh Olins, whose clients include Tory Burch, Jil Sander and Givenchy, for example. Chinese fashion groups Ellassay, Mo&Co and Icicle have also been premiumising their image for years.
Building out its online and offline direct-to-consumer channels to engage with China’s youth is a key focus for We11done. Over the past year, the brand has opened 11 direct retail stores in cities including Shanghai, Beijing, Shenzhen, Chengdu, Guangzhou, Nanjing, Wuhan and Chongqing. Five more openings are planned for 2023. Building on its official Tmall store, which launched in August 2022, We11done recently expanded to JD, Dewu (Poizon) and Douyin, and its new Wechat mini program store will launch this month.
Building a stronger foundation
Not to overlook its home market, We11done will also open a new flagship store in Seoul in September, using the space once occupied by Rare Market. At its height, Rare Market was a must-visit fashion destination in Seoul that introduced cult overseas finds such as Marine Serre and Marques’ Almeida to South Korea. It quietly shut its doors in 2021. “Covid made it hard for us to have overseas buying trips and import brands, so we had to stop [operating] multiple businesses,” explains Kim “It was really tough with customs and everything. A retail store was really hard to survive at the time, and we had to save our budget.”
While there are no imminent plans to relaunch Rare Market, don’t rule it out completely, says Kim. “It’s always in our DNA. We are looking for the right timing and direction as to how we reactivate the Rare Market IP.”
For now, the priority is We11done. The brand recently hired its first chief financial officer and currently employs over 120 people in Seoul and another 15 in China. Sequoia’s behind-the-scenes support with hiring, logistics and cost management is helping the brand to build a stronger foundation, and allows its founders to focus on their strengths, which include design and creative execution, Kim says. He re-iterates that its global ambitions sets it apart from other Korean fashion brands and believes that there aren’t many homegrown role models that have paved a path for We11done to follow.
We11done’s direct retail currently accounts for 50 per cent of the business. Going forward, the goal is to continue to expand its international retail and wholesale footprint; Kim says that Sequoia’s involvement will ensure business growth is “more rapid” than before. As We11done continues to grow its brand awareness internationally, Kim is also eyeing the US for the brand’s first global flagship, in either New York or Los Angeles — but that’s still some time away, he notes. “The US recession is tough so we’re still waiting for the right timing and looking for the right location too.”
Tonight’s show makes Kim nervous, he admits. He’s hopeful that Korea’s generally more conservative audience will understand and appreciate We11done’s unique, boundary-pushing point of view. “I’m very excited to represent our brand in Seoul, from our soul to the world. I hope to share the same feeling with our audience and everyone else who is looking forward to what we do.”
Key takeaway: We11done, the insouciant creative brainchild of Jessica Jung and Dami Kwon, dubbed by some as the “Balenciaga of Korea”, is staging an off-schedule show during the SS24 edition of Seoul Fashion Week — its first catwalk since Sequoia Capital China took a majority stake in 2022, and also its first in South Korea (it normally shows in Paris). At a time of stiff competition in China, We11done’s biggest market, and a complex fashion sector in Asia filled with price-conscious shoppers and counterfeits, a well-timed show in Seoul could help the brand build on its distinct image and strengthen its positioning in its home market.
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