SEOUL – F&F, a South Korean fashion and lifestyle company, announced on February 7 that its 2024 revenue reached 1.896 trillion won ($1.43 billion USD), a 4.2% decrease from the previous year. The company also reported a 18.3% drop in operating profit, which totaled 450.7 billion won ($340 million USD).
In the fourth quarter of 2024, F&F's revenue was 546.5 billion won ($410 million USD), while operating profit was 120.4 billion won ($90 million USD). These figures represent a 6.2% and 16.4% decline, respectively, compared to the same period in the previous year.
A company official explained that the annual revenue slightly decreased due to weakened consumer sentiment in South Korea and warmer-than-usual weather, which affected sales of seasonal items. However, the company noted that the effects of the Chinese government's economic stimulus measures began to materialize in the fourth quarter, leading to a recovery in consumption.
F&F expressed optimism about its future growth, particularly in the overseas market. The company plans to accelerate the expansion of its Discovery brand in China and expects continued high growth in international markets.
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