According to data released by global market research firm Statista, the socks market in the Philippines which stood at $39.8 million in 2024 is projected to reach $44.5 million in 2027. Banana Sisters CEO Jung Yong-ju said he has seen many Filipinos wearing sneakers and shoes despite the Southeast Asian country's extremely hot weather.
Banana Sisters said on January 15 that it has become the first South Korean socks brand to launch a business in the Philippines. "We noticed that there is a big opportunity for growth in the legwear market in the Philippines because people really like socks and Korean culture," Jung said in a statement. The store that opened in December 2023 is inside the Makati Century City Mall, a gigantic shopping mall in Manila.
During the holiday season, Banana Sisters incorporated augmented reality technology to present festive Christmas features for Filipino customers experiencing a year-round warm climate. The store operator has also delivered the brand message through AR content. Beyond the Filipino market, the socks brand aims to expand its business into other global markets.
reporter
Kim Joo-heon
jhkim123@ajunews.com
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