Euletraum means owl in German. This nocturnal bird is known for its extraordinary eyesight. “Owls are farsighted and by choosing this name for our company we want to convey the message that we are looking for long term customer relationships,” explains the company’s Executive director, Kim Chang Hwan.
Despite its name, Euletraum is Korean and was co-founded in 2015 by Kim, a footwear industry veteran, former University professor and mentor and by a young talented designer turned CEO, Jo Yong Ju.
The company specializes in ladies accessories made of crocodile skin and embossed snake. All the material is sourced from Korea. Given the material used, the primary target customers are mature women but the company plans to expand gradually its product range to target millennials and silvers. Its main markets are currently Japan, Malaysia and Taiwan but plans are to expand to Europe and the US, according to Kim. Other expansion plans include opening their own stores and to increase their existing online presence both on their own website and on local Korean e-commerce platforms.
Asked about the future of the industry, Kim foresees a difficult time until 2020 especially with the new US administration. “The general global mood is leaning towards less consumption but this situation is an extra incentive to concentrate on e-commerce and on opening new markets,” explains an optimistic Kim.
Last march, South Korea joined trade talks with member states of the now-scuttled Trans-Pacific Partnership (TPP) to discuss the possibility of joining the Regional Comprehensive Economic Partnership (RCEP) and the Free Trade
Area for the Asia-Pacific (FTAAP), which bodes well for the country. A long time visitor and participant, Kim chose Fashion Access to reveal the new brand to the world. “Our aim is to find partnerships with brands willing to incorporate our products,” he said, adding that they had already been approached by Chinese companies.
Does the age difference between the two associates create any communication problems? “Not at all,” they both answer. They say they complement each other: he, bringing his network and his experience in marketing while she brings her creativity and her informal and easygoing attitude.